Steel prices go through the roof

04/29/2008 | MarketWatch

Steel prices are heading to record highs, and the steady creeping up of prices has broken into a gallop in the past three months, according to Kenneth Simonson, chief economist for the Associated General Contractors of America. The price of hot-rolled coil steel, for instance, recently rose 72% from its peak a year ago to $1,000 per short ton.

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