News Article :: GLOBAL FASTENER PRICES
Date : Jul 17, 2008
Huge increases in steel wire prices, fuel and freight are driving fastener prices to the highest levels seen for a long time.
- The Cost of European Iron ore (intrinsic to steel making) imports from Brazil rose over 50% from 2007 to 2008
- International coking coal prices have risen over 200% in the last year
- Recyclable ferrous scrap is 600% higher than 2003
- Oil consumption has risen in China and India and the price is approaching $150/barrel
All this contributes to very large increases in cold-heading quality steel wire which is used to make industrial fasteners with Europe seeing increases of €250/t
Depending on steel content, fasteners are expected to rise by anything up to 60% by Q3 of this year.
TR end user customers can download a presentation from Phil Matten of Fastener & Fixing Magazine [here]