Who’s going to pick up the tab for saving the planet?
Jun 01, 2008 | 12:45 PM
While many steel consumers in the United States are puzzled by cap and trade and are waiting to see the final legislation before taking any official position, others are already expressing concern that they'll be forced to shoulder the financial burden as steel companies pass along higher energy prices.
With most steel products already at all-time highs, the thought of steel prices going even higher is overwhelming.
Steel plate producers, for example, slated cumulative increases of $470 a ton in the first six months of this year, putting June's spot market prices at $1,220 to $1,230 a ton, up nearly 63 percent since the start of the year. It's been much the same in the carbon flat-rolled market. In early April, spot market hot-rolled sheet prices hit a record $1,000 a ton, cold-rolled nearly $1,100 a ton and hot-dip galvanized sheet in excess of $1,200 a ton.....
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