Watching the dominoes fall for US steel

The domino theory in global politics — pertaining to the spread of communism, kids — is a thing of the past, but it is getting new life in the global steel arena — not the communism part, the domino part. The most recent example in steel is a “double domino.” First, there is market chatter that US mills may soon file unfair trade cases against plate imports in response to an imminent trade case filing by European producers against plate imports from China and other countries. The thinking is that if Europe blocks plate imports, they’ll look for another home, i.e. the US. So the US must take action as well. It’s sort of like if you don’t want a gun, but because everybody else has one, you better get one too. Or, you might like driving cars, but if everyone else has an SUV, you may have to get one to survive on the highway — or at least be able to see road signs and traffic lights before they are on top of you. For the American steel industry, which already wants (has) the metaphorical gun and SUV, plate steel trade case filings are virtually assured, especially now … continue reading

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Source: CTRM Center

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