WiredPRNews.com “For a limited time,” says Arnold Davis, President of Olympia Steel Buildings, “Olympia is offering its own ‘steel building stimulus package’. Customers who act immediately and order steel buildings or metal building systems in the month of November can save thousands by locking in their price before the cost of steel again rises, causing building prices to increase as a result of the increased cost of materials.”
Steel Prices Hit Historic Low – Price Jumps Forecast for 2010.
In mid-October steel prices started falling to an historic low not expected to last beyond November 2009, with steel prices expected to rise again to new highs in only 3 months. “We expect steel prices to escalate 15-20% by January, 2010,” says Davis, noting the following factors expected to contribute to escalating prices:
• Steel demand is increasing, according to U.S. Steel and Nucor, the two largest U.S.-based steelmakers, at a recent conference.
• The Government’s infrastructure stimulus programs are beginning to boost steel demand, the full impact of these programs expected by January 2010.
• Rising automotive demand, ignited by the cash-for-clunkers program, has already begun to push steel prices higher.
• The World Steel Association has forecast that world demand for steel will grow 9.2% in 2010.
• Recently imposed US duties on steel pipe from China will put more pressure on demand for US steel in 2010.
“We want to give our customers the opportunity to benefit from the current low steel prices when ordering metal buildings and custom steel buildings systems,” says Davis. “But they need to act immediately because steel’s historic low price is not expected to last beyond November, 2009.”
About Olympia Steel Buildings
Olympia Steel Buildings supplies durable high quality pre-engineered steel buildings for commercial, industrial, agricultural and residential applications using only the highest grade commercial US steel available. Olympia Steel Buildings has been a leader in pre-engineered steel buildings for more than 40 years and is proud to provide excellent customer service and quality products 100% made in the USA and backed by a 50-year limited structural warranty. To learn more about Olympia Steel Buildings, please visit www.OlympiaBuildings.com