Steel shortage could lead to more cars crushed!!!

[Vern B]

I do some business in the scrap industry selling for Caterpillar. Two years ago scrap was $ 50 a ton, today it
it is over $ 300 a ton. China has a voracious appetite for steel and it will only get worse. I was in Peoria last week and was told they are price protected for another year, after that Katie bar the door. By the way, the recession is over, a year ago most everything was 4-5 week delivery, now it's 20 weeks plus and everything is sold that's being built. And they might go out on strike next week 4/1, go figure!!!

Vern Bauer