Not surprising given the popping od China's housing bubble. Not building more high rise apartment means less demand for steel, steel glut ensues. My relatives are all saving money for rainy days given the pessimism and uncertainty of the Chinese economy, so it's not just steel but a lot of left overs due to weakened Chinese consumers.
@@enhancedutility266down from last year? Mate it’s still almost double what it was 3 years ago. The drop since last year is nothing. Steel price is still insanely high.
Our company has been relying on American steel since the beginning of our start. When supplies were disrupted our company didn't b,ink an eye while other companies folded. Proud to say MADE IN THE U.S.A.
@@shawnsanders2182 and my company (not mine actually- I just work there) is grateful to you and yours because we make high-quality steel right here in good old Pennsylvania. And we just had our best business year since 1889!
I know a guy that sells Australian coal to China. He said he went there and they have paddocks and paddocks of H bar steel already made doing nothing. Acres and acres of it, all stacked and ready to sell into the market. Don’t believe what you hear. And he is one of the biggest exporters here. Millions of tonnes.
USA steel industry is the most protected, and yet trans-shipped steel from China through Viet then Mexico can still find a competitive path into the USA. God bless America! Instead of constantly trying to hobble others, why not put the effort in improving productivity?
Because it's not a productivity issue when the other side is subsidized to the hilt. Pay their workers slave wages. Unless AI and robots are the one doing all the labor and then the energy is paid by the US government it still might not be enough.
@@nightmark2120 if you understand how currency works and how most traded goods and debts are in USD, you would realise which country is the most subsidized.
Despite over steel production in China ( at the request of the government) given the weak Chinese real estate economy.The government wants to dump steel into the International market. But Brazil, Japan, Chile, EU other markets are closing market to Chinese anti dumping.
We from the global south currently have much lower requirements for our steel. We will happily take Chinese steel at the reduced prices. One of the extremely rare occasions where western sanctions get to benefit us.
Still steel precovid rates not attained or in range in india.... Steel is expensive in india.... Precovid rates nearly 32-40k/ton....present rates 54-60k/ton with taxes
Actually, US decline is not as this fast. But the sanction force China to be self sufficient and thus US decline has speeded up. All the problems faced by US are self inflicted.
You’re confused. China needs the US more the US needs China because China has zero domestic consumption. The sanctions have caused the US to be more self-sufficient.
@@shaunl1922 China doesn't have zero domestic comsumption, the real issue is that Chinese no longer have an apppetite for western luxury goods because they as culture do not like materialism. There has been a push to consumer cheap local products from sports wear to coffee and cars, Sports brands like Anta, coffee shops like Luckin, domestic EV brands and even Huawei making a comeback are taking over market share in China. Foreign brands are no longer competitive in China. No country on earth is self suficient, US manufacturing still depends on Mexican factories and Indian tech offices. All the new jobs America is creating today are service jobs as most jobs created today are part time jobs, not full time jobs.
@@lolcatjunior they are not pushed toward it, they cant afford it out side the 15 millions top 1% they have. most chinese are consuming cheaper stuff simply because their earning got down graded. even people working in the chinese government are getting cut back heavily in salary. but the perspective doesn't change, regionalization will take center stage in economic planning. europe will prioritize consume their own stuff, us gonna consume stuff produce in north america only. maybe buying some stuff aboard if must, but no longer at the rate as today.
Exports are going up because internal demand has fallen but production has not. So they are dumping in order to keep operating. This WILL lead to repercussions from the international community and China's steel industry will begin to collapse. A number of producers have already collapsed.
Good news for us! Chinese subsidized steel won’t flood the market😂 we have built 5 aef plants in the last 3 years, as long as we don’t allow counties to buy them out. We should subsidize steel here in the us every other year and flood the world with our product, like we do with agriculture.
no big DEAL THE ECONOMY IS SLOWING NOWS THE TIME TO SHUT DOWN & DUE MAINTENANCE & UPGRADES ARE WHAT ALL MANUFACTURE'S PLANTS SHOULD BE DOING , GEARING UP FOR THE NEXT REBOUND IN GLOBAL ECONOMY ..THE WAR WILL END THEN WILL BE A NEW AGE ON THE HORIZON
Modernising production facilities is the key factor to be able to complete globally. But in a protected business environment like in the US the companies don’t see that need since they are protected by tariffs. The real losers are the consumers who pays more for the products due to inefficient production processes. US shipbuilding is a prime example of this. Corporate greed and maximising the Q-result is more important than planning for the next 5++ years. Warren Buffet is the opposite of this and just look how successful he has been
@@12345anton6789 stop talking out of your stinky hole. Every country in the world is putting tariff on Chinese product not just the U.S. China is trying to climbed out of a balance sheet recession by exporting instead of getting their population to consume. Learn about China balance sheet recession., before you talk.
