Oof. The price of gas is going through the roof, and even milk is costing us a lot more than it used to. (My Lucky Charms breakfasts are not the bargains they used to be.) What's next? Well, how about steel?
At industryweek.com recently, I read that Dutch steelmaker ArcelorMittal
This should be of interest to us, even if we're not investors in the steel industry -- because the price of steel is a factor in our financial lives. Rising prices will have a major effect on industries such as construction and machinery, and eventually on manufacturers such as automakers. Just what General Motors
Arcelor Mittal isn't alone. Nucor
If you're wondering what's driving these increases, many point fingers at China and other parts of Asia, where heavy construction and development are increasing the demand for steel. (You can get in on and profit from international growth by investing in some carefully selected foreign powerhouses.)
You can learn more about the steel industry and about investment opportunities in these articles:
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Longtime Fool contributor Selena Maranjian does not own shares of any companies mentioned in this article. Try any of our investing services free for 30 days. The Motley Fool is Fools writing for Fools.