Posted by jack cain on Wednesday, July 21, 2004 at 9:44AM :
Just read in today's newspaper that the price of prime scrap steel has risen from $220 per ton last month to $340 per ton this month. The price increase is due to Chinese demand for U.S scrap metal.
The article states that China used 40% of the world's cement last year, 31% of its coal and 27% of its steel as well as 7 percent of its oil.
Follow Ups: