AWS just reduced the price of their SC1 Elastic Block Store volumes by 40%, "or an estimated $160 for each 16TB sc1 volume. " These volumes are great for "large, sequential cold-data workloads"

From the article: "EBS sc1 volumes offer sustained, baseline throughput of 12 MB/s per TB and a maximum baseline throughput per volume of 192 MB/s. EBS sc1 volumes are backed by Hard Disk Drives (HDD) and provide the lowest cost per GB of all EBS volume types. Similar to st1 volumes, sc1 volumes provide a burst model; they can burst up to 80 MB/s per TB and up to 250 MB/s per volume."

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These volumes are

Details about these volumes are available here.

And the updated pricing can be seen here.