This past Friday, Nucor sent an e-mail to us saying that they are going to raise their prices. I know a lot of people who keep saying that the prices won’t hold, and they are waiting for a decrease. I would not wait to lock in prices, for we are already seeing improvement in the economy. The first positive sign is that the auto industry said that they will increase volume to 12.0 million from a low of 8 million.
The dollar is still decreasing against all the other currencies, so there will be fewer imports of steel. The last reason that I just heard today was that China has decided that they would invest a lot of the dollars that they are holding into hard assets; such as oil, steel, cooper, and other commodities.