Machinery Manufacturers Benefiting from Drop in Steel Prices

Spurred by unprecedented demand for the first three quarters of last year, many suppliers of steel to the ag equipment industry enjoyed record years in 2008.

However, in the final month of the year, steel distributors saw a sharp decline in pricing, and some competitors began releasing shipments at a loss, causing others to follow.

Suppliers told AEI that steel pricing fell 20% over the last quarter of the year. Lead times are reportedly down…

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