In October 2008, steel prices plunged by more than 31% for the third consecutive month. The fact remains that construction sectors has slowed down in wake of current financial crisis and an availability of capital. Cement prices dropped by another 8% besides falling prices of oil. There is a surplus supply of steel in the market. This is the third consecutive month during which steel prices fell making record of large declines. During first half of current year, there was a record increase of 91% in prices. The most remarkable slump in prices of construction material occurred during October 2008. If is notable metals which suffered our flat steel, beam steel, angled steel, bars, and high tensile steel. These commodities dropped by 8% to 31% during the unfortunate month. On the average
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Thursday, November 20, 2008
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