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High world prices both curse and blessing to U.S. firms
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| Contributor | ArmyDem |
| Last Edited | ArmyDem May 15, 2008 09:21am |
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| Category | News |
| News Date | Thursday, May 15, 2008 03:20:00 PM UTC0:0 |
| Description | By Kevin G. Hall | McClatchy Newspapers
SYRACUSE, N.Y. — Midstate Spring has made coiled wire forms and precision springs here for nearly seven decades, and it makes them mostly for U.S.-based buyers. But the soaring price it pays for steel and copper wire is set by global supply and demand trends, and that's put Midstate in a world of hurt.
Those same global forces have sent scrap metal prices sky-high. Across town, a scrap yard operated by Metalico Syracuse Inc. is enjoying good fortune. It sells mostly to nearby mills such as Nucor Steel in Auburn, N.Y., not to foreign countries, yet it nets a rising global price.
Welcome to the increasingly complicated world of international trade. From oil and corn to steel and copper, global supply and demand forces set prices for U.S. products at home and abroad.
The United States remains the world's largest and most developed economy. But over the past decade, global economic growth — especially in huge developing nations led by China, India and Brazil — has slowly redirected the flow of international trade and the prices of products, commodities and services.
Projections for this year show world copper prices increasing almost fivefold from 2003, the year the global boom began in earnest, with aluminum prices more than doubling, lead prices growing more than fivefold and tin prices almost quadrupling. |
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