So here are the charts.
Steel tariffs are now in place, and the world is grumbling and threatening retaliation against the US. Its closest partners, such as Canada, are trying to figure out how to navigate the waters. Part of Corporate America is lobbying against it and wagging its checkbook. The other part of Corporate America — the part that has been lobbying for it — is now grinning from ear-to-ear. And the media is steeped in this melee. But just who is producing all this steel, and who is dominating this trade?
In April, China’s crude steel production rose 4.8% from a year ago to 76.7 million tonnes (Mt), the highest on record, according to the World Steel Association. This was nearly 11 times as large as the 6.9 Mt of crude steel that the US produced.
More @ Wolf Street
China's steel is the most low grade steel going. Every time
ReplyDeleteI buy chicken wire for my chickens and am forced to buy
'made in China' it starts rusting within a month. It's
nothing but junk and a waste of money.
Thanks, so although it may be cheap it's probably more in the long run I assume.
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