June 30, 2022
I was somewhat surprised to read in a NYT article on integrating solar panels with agriculture that the price of steel is skyrocketing. The article has a link to this May 2021 piece, when the price of steel was indeed skyrocketing.
However, it is now June of 2022, not May of 2021. The price of a ton of the steel highlighted in the May 2021 piece is now down more than 40 percent from its May 2021 price, to $910 a ton. This is below the nominal peaks hit in 2018, and adjusted for inflation, lower than peaks hit early in the last decade. In short, it is no longer true that the price of steel is skyrocketing.