Back on May 1, 2008 I discussed the all-time new heights reached by the steel surcharge (origin here). The surcharge actually peaked in September 2008 at $845 per ton. As the recession hit, the surcharge dropped dramatically to below $250 per ton less than a year later.
Good News / Bad News
It looks like the economy has definitely improved (good news). The steel surcharge has a comeback to nearly $600 for February 2011. Signs are that the surcharge will continue increase for the next few months and possible eclipse charges not seen in two years (bad news). If you are going to need Steel Shot or Steel Grit this year, it may make sense to do a little pre-buying.