For those who don't follow this sort of thing, the price of steel has been going through the roof recently. In my industry (rebar), the price has almost doubled in the past few months. Scrap steel has gone from roughly $60/ton to $260 the last I heard. China is buying 31% of the world's steel production and it doesn't appear that the increases are going away any time soon.

Sooner, rather than later, these prices will filter down to things like cars and trucks. The cost of steel may bring on some increases for those who are putting off purchases. I don't know how big a percentage steel is in the overall price of a vehicle, but I would think that manufacturers are going to have to raise prices to cover the added costs.

Just a heads up...

 

As a Material Manager at a manufacturing corp. steel isnt the only thing, so is aluminum and copper.
You can thank china for that, their not only buying all they can get their hands on, but their also buying all of our scrap too!