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Steeling Your Profits
By Michael Petro and Tom Arbogast

The recent spikes in energy and food prices have captured the daily attention of the North American and global media. However, the newspaper headlines should also spotlight global steel prices as a key factor that is wreaking havoc in industrial and commercial markets. The influence of steel price inflation reaches far beyond the typical realm of steel buyers and suppliers, and is affecting consumers of products from virtually all industries, including automotive, housing, transportation, construction, medical, communications, aerospace, energy, agriculture, and so many others. As illustrated in the graph, steel prices have risen more then 400 percent over the past six and a half years—an increase that outpaces most commodities, including gasoline and corn... Full article.