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Re: Re: Re: Re: Re: Boycott SHELL and buy AMERICAN
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Posted by Matt K on May 04, 2004 at 09:17:14 from (204.227.205.36):
In Reply to: Re: Re: Re: Re: Boycott SHELL and buy AMERICAN posted by Thomas Loecken on May 04, 2004 at 08:37:03:
China is the largest producer of steel in the world (63 million metric tons of raw steel in the first 3 months of 2004). They are also the largest consumer of steel, last year China used 232 million metric tons of finished steel, the world total consumption of finished steel was 864 million metric tons. The rest of Asia (except Japan and CIS) was the 2nd largest consumer, at 147 million metric tons. NAFTA countries (US, Canada, and Mexico) accounted for 131 million metric tons. For more info check out www.worldsteel.org The US steel industry is still reeling and restructuring after several years of low prices, "dumped" foreign steel, bankruptcies, and mergers. $100 million blast furnace rebuilds were postponed, leading to decreased capacity. Coupled with high energy prices, metallurgical coal field fires, and a weakened dollar, these factors are also part of what is driving the price of steel.
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