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  •  steel industry worldwide (3+ / 0-)
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    Betty Pinson, JVolvo, Justina

    there are several South East Asian steel companies which are propped up by tax payer money, which sell steel below the cost of production in order to destroy companies in other parts of the world (particularly the US) so that after a monopoly is gained, then the price will be raised. It is one of the main problems the US has had with say, South Korea, for decades.

    Above Grecian mantles were chiseled these words... Know Thyself... Nothing in Excess... the pop philosophy of its day.

    by ravagerofworlds2 on Sat Apr 16, 2011 at 09:05:41 AM PDT

    [ Parent ]

    •  That seems not to be the case. (0+ / 0-)

      By and large the US steel industry decoined for exactly the opposite reason; they were protected for years and failed to moderninze, US Steel and Nucor (founded as the first truely modern steel maker and as a captive organization) being the exeptions, and still highly ranked.

      Steel makers by rank.

      It is true that many steelmakers have benifited by various protectionist measures, but American steel makers were hardly an exception - indeed, protectionst tariffs seemed to have hastened the decline of some companies such as Bethleham Steel. But I donlt see any South East Asian steelmakers on the ranked list.

      POSCO and Hyundai, the two big Korean steelmakers both followed a model very much like British and Amercan steelmakers benifiting largely from relationships in the shipbuilding (and in the case of British and American comanies rail), but Hyundai has been in decline since the Asian Economic Crisis which broke-up Hyundai into more automomus parts.

      I think one thing that needs consideration is that heavry industries such as steel have historically risen with the general industrial development of nations and ultimately decline (in terms or output) as their markets mature and no longer demand the volumes previously required, and so these companies and nations face the prospect of having to downsize or capitalize on markets beyond their broders.

      England, the US, Germany and Japan have all had their days at the top of the heap, and today, China, which is the largest steel produing country is consolidating it's steel industry which is facing exactly the same probelms it's predecessors experienced - too many companys with too many aging plants and a maturing market, so in less than 10 years I ould expect to see 5 or fewer Chinese companies whith Baosteel remaining at the top (the only major steel producer run by a female CEO, incidentally).

      Of major steel producers, NUCOR is probably unique in having a process run entirely by electric furnances using reycled materials, which it has from the begining.

      I think this article on Bethlehem Steel is worth reading to get some insight on how steel companies rise and fall, and the articles on US Steel, Nippon Steel and the (premerger) roots of Thyssen and Krupp to see how thet are transformed.

      What about my Daughter's future?

      by koNko on Sun Apr 17, 2011 at 10:16:59 AM PDT

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      •  based on your own link (0+ / 0-)

        you will notice that China and South Korean companies are #2 and #3 on the list. Japan is #4 and #5, China is at #6 and #8. An American company finally is on the list at #10.

        What I outlined, for the world steel industry, is exactly what has been happening since after the Korean war. Bethlehem asked for help from Congress after getting underpriced by these trade tactics, and Bush Jr. ignored it.

        Above Grecian mantles were chiseled these words... Know Thyself... Nothing in Excess... the pop philosophy of its day.

        by ravagerofworlds2 on Mon Apr 18, 2011 at 11:32:08 AM PDT

        [ Parent ]

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