Steel Prices are heading up, and we believe that they will move pretty fast over the next couple of months, and will be back above last years pricing. There are several reasons for this. The first one is that the Steel Service Centers are carrying inventory at historic lows. So any increase in demand over the next couple of months will drive prices up. The Second reason is that the Mills have been forced to idle a lot of capacity, so they will be slow to react to the demand which will cause pricing to rise as well.
In the next couple of days, Roller Die will also give the reason why this will be a long-term trend.