Well actually industrial metal prices have not gone up much at all in recent years.
Even when the price of metal of was on the rise a few years ago, the rate of the increase in final product far out paced the increase in raw material cost. For example, the cost of lead (Pb) increase by 2% on open market, and now the price of ammo goes up by 300%. This suggests the increase in price is driven by demand that is localized in certain market segment that is driven by factor (fear) that is unique to that particular market segment.
Unfortunately, there are still people who refuse to see the truth and believe the ammo price will continue to rise and act accordingly by buying up everything regardless of price. Until those people either 1. run out of money or 2. come to the senses, panic will never be over.
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