View Full Version : china
05-10-2004, 05:35 AM
So I saw on the news that china is supposed to slow down its industry growth. Dose Any one think this will help the price of steel to go down?
05-10-2004, 09:56 AM
Scrap prices have been dropping for the last one or two weeks.
05-10-2004, 10:39 AM
My steel dude said on Friday that his lot price for August is down........slightly. He thinks as long as the domestic mills are behind, demand will keep prices falling slightly or at least stable for awhile. After that , who knows.
05-10-2004, 12:59 PM
Steel suppliers at the wholesale level are going to use the same business model gasoline suppliers have been using on us for the last 25 years.
China placed a MAJOR order for scrap, because phase 1 of 3 Gorges Dam started producing electricity, and all hell broke loose.
Manufacturers took advantage of the market, and prices went thru the roof for new steel here. It's not a reflection of supply and demand, since very little steel has been produced in this country for years. The steel for the World Trade Center was produced and fabricated in Japan, and that was 30+ years ago.
The price of steel is a function of what the market will bear, and nothing more.
Factor in that there is only 1 coke plant in this country, and even though there is talk of building a new coke plant in the Lehigh Valley, the Greenys will never let it happen.
US industry is being chased out of the country by Greenys, tax laws, people who don't want to work, and assholes employed by government agencys who are too stupid to work.
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