Recession does little for steelmaking costs
New York — The recession so far has had only a minor effect in checking the rise in steelmaking costs, Iron Age magazine observes. Prices of some of the more volatile commodities purchased by steelmakers are weakening, but the general trend is still upward.
Iron ore prices rose in April. Power, natural gas, and oil prices continue to rise. Coal pricing has been competitive right along, but steel mills get most of their coal from captive mines.
The most decisive change has come in the market for steel scrap. In the last month, the Iron Age composite price of No. 1 heavy meltin scrap has fallen $15.