Iron, Steel Prices May be Peaking, Journal Says

n oversupply of iron ore may lead to steel price drops, the Wall Street Journal reported Thursday.

Rising steel prices have boosted trucking-related costs for everything from trailers to engines over the past year.

Less than a month ago iron ore producers received 71.5% increases on their contracts, but expansions at mines and smaller companies ramping up production could lower prices by next year, the Journal said.