Why Don’t We Steel Away

US Steel and Italy’s Tenaris have just jacked up prices on seamless steel pipe, the kind used for transporting steam and other gases and liquids under pressure, by $300 a ton. That’s better than 20%.

Pipe we sold for $0.55 a pound a year ago is now going to go for $1.25–if there’s anything left to sell after the Chinese take their allocation.

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