Economy

JJ Husker said:
If you are tired of my steel price updates, move along.

Stainless steel took another huge increase a couple days ago.  What was running about $1.50 to $1.80 per pound just over a year ago and $3.50 to $3.90 per pound a week ago, jumped to about $4.50 per pound a few days ago. That’s 20% this week (so far) and 300% in just over a year.

Stainless steel is used extensively in beef/pork/poultry production and general food processing as well as many other areas. It will impact things downstream and make it’s way to consumers. I cannot even hold quotes for the same day. It is absolutely bonkers. The reasons given are, nickel prices (apparently Russia is a big nickel producer) and energy/gas prices. Just FYI if you’re interested.

Also have heard that one of the large local steel (non stainless) distributors, based out of Norfolk Nebraska, has stopped selling sheet and plate due to all current inventory being sold and the market being too volatile for them to order more. This is hearsay from a fellow fabricator.

It’s a real s#!tshow.
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there are some ukrainian farmers who can sell you some scrap steel at reasonable prices.   not sure what the shipping cost would be

 
JJ Husker said:
If you are tired of my steel price updates, move along.

Stainless steel took another huge increase a couple days ago.  What was running about $1.50 to $1.80 per pound just over a year ago and $3.50 to $3.90 per pound a week ago, jumped to about $4.50 per pound a few days ago. That’s 20% this week (so far) and 300% in just over a year.

Stainless steel is used extensively in beef/pork/poultry production and general food processing as well as many other areas. It will impact things downstream and make it’s way to consumers. I cannot even hold quotes for the same day. It is absolutely bonkers. The reasons given are, nickel prices (apparently Russia is a big nickel producer) and energy/gas prices. Just FYI if you’re interested.

Also have heard that one of the large local steel (non stainless) distributors, based out of Norfolk Nebraska, has stopped selling sheet and plate due to all current inventory being sold and the market being too volatile for them to order more. This is hearsay from a fellow fabricator.

It’s a real s#!tshow.
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LOL never! I am always interested to hear how it's going, especially during these times.  Those increased prices are jacked up.  Stay positive, hang in there @JJ Husker

 
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Archy1221 said:
Maybe ask people in the Obama admin 
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And, it's been shown to you multiple times what is causing the inflation with expert reports to back it up.  I even remember someone asking you what Biden should have been doing differently to fight inflation.....or, even what he specifically has done to cause it and I don't ever remember you answering that.

It's pretty much well known by everyone it's not Biden's fault.  But, the common theme is...."Well, he's President so he's going to be blamed for it."

So, I once again, refer you to this post.

Well, anyone who constantly claims "gas prices are high and it's all Biden's fault" are proving that statement true.
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BigRedBuster said:
And, it's been shown to you multiple times what is causing the inflation with expert reports to back it up.  I even remember someone asking you what Biden should have been doing differently to fight inflation.....or, even what he specifically has done to cause it and I don't ever remember you answering that.

It's pretty much well known by everyone it's not Biden's fault.  But, the common theme is...."Well, he's President so he's going to be blamed for it."

So, I once again, refer you to this post.
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Take it up with the Obama admin not me :ahhhhhhhh

 
BigRedBuster said:
So, you can’t say why inflation is Biden’s fault or give things he should be doing to fix it. So, you go all the way back to the Obama admin?   :laughpound

Typical. 
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No, if you would actually read the words in a post instead of assume which is getting typical, you would see that the advisor to the treasury Secretary is saying it’s on Biden.  

 
March 30, 2021 wholesale price of gas was 1.996.  Retail price of gas was 3.119,

March 14, 2022 wholesale price of gas was 3.00.  Retail price of gas was 4.414

The spread today is .291 more than in 2021.

 
BigRedBuster said:
March 30, 2021 wholesale price of gas was 1.996.  Retail price of gas was 3.119,

March 14, 2022 wholesale price of gas was 3.00.  Retail price of gas was 4.414

The spread today is .291 more than in 2021.
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But the markup is 5% less today than it was 3-30-21.  :dunno   So I guess it depends how you look at it.

 
BigRedBuster said:
March 30, 2021 wholesale price of gas was 1.996.  Retail price of gas was 3.119,

March 14, 2022 wholesale price of gas was 3.00.  Retail price of gas was 4.414

The spread today is .291 more than in 2021.
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1. We don't pay wholesale at the pump.

2.  Russian oil is heavy oil which is not suitable for gasoline.  It is used for industrial purposes. Therefore, the import ban (executive order) on Russian oil has no effect on gasoline used by motor vehicles.

 
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