Scrap steel prices reaching new highs, squeezing contractors

04/12/2004 | American City Business Journals

With the price of heavy melt scrap steel recently surpassing $300 per ton, some contractors are hesitant to bid on projects far in advance and run the risk of eating any price increases. The newly formed Emergency Steel Scrap Coalition says that "U.S. companies are facing a dire situation due to the sharp increase in scrap and steel prices" and is advocating temporary export restrictions on the material.

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