@@williambrouwers5664 It's a flawless Peter Wright :) Wrought Iron, only the face is steel. I'm not even a blacksmith, it just looked so cool, I had to have it!
@@gtn9 yeah and that will lead to everything costing more money, I was reading the other week the food shortages in supermarkets are going to be forever basically. Wtf happened to the world dude
@@watsappenin2865 Its called, " over-population"... If we don't slow down births all over the world which will slow down the raping of the earth's resources, we are going to be effed! If we do keep it in check, we can start to slowly move along and the planet can take a breather and start to heal itself from all the destruction we have caused her :/
For those that don't know, traditional integrated mills also use scrap. They add about 20-30% after the BF and then it goes to the BOF to remove impurities and excess carbon. That's when it's actually considered steel.
@@aaronfield7899 basic oxygen furnace. It has a lance (submerged entry nozzle SEN) that pumps oxygen in. The O2 binds with carbon to make CO and CO2. The lime that's added is a flux that binds with the more active elements and O2 to form slag which is removed. After that it goes to ladle metallurgy, where they adjust the chemistry.
@@aaronfield7899 Yes. Traditionally, they could also be poured into ingots sometimes called pigs. Hence the name. Somewhat of a useless fun fact for you.
Prices are rising due to an increase in demand. Demand is increasing as the amount of reshored manufacturing jobs increases. We’re on pace to see a total of 220,000 manufacturing jobs reshore to the US up from 160,000 in 2020 which was up from about 140,000 in 2019. The good news is that we’ve got several steel mills under construction in the US set to come online within a year. I know Nucor is planning to build a massive $2.7 billion steel mill somewhere in the mid-west.
Did you know that steel is the most recycled material in the world? In North America, we recycle around 80 million tons of steel each year. That’s more than the weight of all of the cars in the entire state of California. It’s also more than all the paper, plastic, aluminum and glass we recycle each year combined.
@@investigativejournalism8393 For "Investigative Journalism" you didn't do a very good job of investigating the context of the original post. The post was about North America so I was commenting about North America.
We are seeing the importance of energy independence or atleas the option to be independent. All of those shortages you listed are energy including steel. China cant run their mills and thus global steel supply drops.
Just In Time Supply Chains! Inventory and spare capacity is the enemy! Except the company that invented that KoolAid learned its limits. So they stockpiled what? Computer chips. When Toyota head-fakes the entire capitalist world....
Ive seen metal fabrication companies that make aftermarket steel and aluminum off-road parts for trucks and suv's increase costs citing increased costs of labor and materials (steel + aluminum).
@@simpleton8148 he's not entirely wrong mate, and similar to carbon emissions, companies are more responsible for excess steel usage than individual people and they can make much more of a difference.
I leave and work in UK and we have the same problem, steel prices went up 200%-300% and we experience constant delays in material, sometimes it’s 3 weeks wait.
@@TomNook. China has a pretty bad energy/coal shortage right now, and steel takes a hell of a lot of energy and isn't that expensive. It's unlikely that CCP will subsidize anything beyond what's necessary to secure China's internal supply.
@7:30-@8:00 (and before and after) what is with the high pitch beeping in the background???? omg driving me crazy..... my friends cant hear it, but i pulled it up and you can see the beeps in the audio track...
@@averyhuelsbeck3116 You might be going to a recycling center not a garbage dump / landfill. In my area, everything gets dumped in the pit / compacted and covered. Anything in a dumpster gets dumped into the truck and not sorted.
We are short on steel because of the building of AI super soldiers and their weaponry has caused this shortage world-wide. No one will tell you until they want you to know.
Assuming production can be adjusted as easily. The fact that there's shortages now even though it's known that demand is higher kinda shows it's not as easy
factories are still closed. Iron minner will be forced to raise prices due to low labor. Pass on to iron mill that just collects fees for refining then pass the high price on consumers. The problem is low labor in the market which causes low productivity of the goods. And everything becomes expensive
Did you know it takes 440 kWH to produce one ton of recycled steel? It takes 260 tons of steel to make one wind tower. It takes 65 wind towers to produce enough electricity to make one ton of steel. So to make those 65 towers, it took 16,900 tons of steel, which required 7,436,000 kWH of energy. Now thats based on the minimum amount of energy needed, it could be substantially more depending on many variables. Every ton of steel produces 1.85 tons of CO2. Every tower made produced 481 tons of CO2, those 65 towers to produce 1 ton of steel created 31,265 tons of CO2. Green energy at it's finest.
Those are _Texan_ wind towers. They have an incentive to make green energy look bad. In most european countries, they are made of fiberglass, not steel.
@@specialopsdave Yeah, RIGHT, tower made from fiberglass. Sorry but fiberglass is not structurally sound enough to support rotor diameters of 100-129 meters. The blades and housing for the gen set may be glass, but the tower is going to be made of steel or concrete, mainly steel.
@@specialopsdave And yet, a search for fiberglass wind towers comes up with blades and nacelles, but nothing about actual towers. Why? Because they can't make then strong enough to support the weight nor the motion of the nacelle and blades. The towers are still going to be steel. Steel can be recycled, fiberglass cannot, and fiberglass breaks down much faster than steel so they have to be replaced quite often, and worse, fill up landfills. I don't know where you heard they make towers from fiberglass, but thats incorrect.
@@acdii I never meant to say towers, I meant to say turbines. My point remains: Steel blades push it over into straight-up environmentaly unfriendly (like in Texas), and plus, only the frame needs to be steel. The tower skin is typically made of fiberglass too (except where they have an incentive to make it environmentally unfriendly) Plus, recycling? Once biodegradable resins become the norm, the glass will turn to sand over time, and it will leave no trace. In the meantime, it leaves nearly no pollution compared to plastic. While I agree that steel is more recyclable, the numbers you referred to about wind turbines being worse for the environment? They don't count the ACTUAL savings from recycling the steel. If you do, then they're always better for the environment than coal or gas. 440KWh? You must be referring to the raw thermal energy when using coal foundries. Arc furnaces are the new hotness, _and they can be turned off when clean energy is unavailable._ Even if your numbers were correct (600 tons of CO2), they'd make it up in the form of clean energy in 2 years.
It can't keep rising. If it did, anything made from steel would also rise just as much. Cars could easily end up costing $100k+ if steel prices tripled.
@@fcalin21 Same. Whenever I hear someone use decimate to describe loss, I think it's only a 10% loss instead of complete annihilation. It does sound cool and powerful I guess.
Steel and metals will continue to rise. China has a huge production shortfall due to energy issues. It will need months to fire back up to full capacity.
You completely misunderstood the situation. China has been intentionally cutting down steel production since last year, trying to remove inefficient, highly polluted steel mills. That country realized it was not worth polluting own lands (some are even permanent) and air to provide cheap products, exchanging for US bonds.
@@anti-bullingjames China is reducing Australian coal imports and cant find enough to continue running mills and power plans. Everything hit a production slump last year. Aluminum is sky rocketing as well. China can't produce enough to keep up their levels of production. Now with LNG going up all of Asia is about to get hit hard.
@@cmdr1911 apparently you have no idea about this topic. Before china and Australia had issues, only 1.9% all coal consumptions (this is CONSUMPTION rather than IMPORT percentage) in china came from Australia (1/1-11/01,2020, china imported 0.3 bill tones and 70 mill tones came from Australia). Also, a large portion of coals imported from Australia are coking coals for steelmaking (near 60%) rather than thermal coals for heating. In fact, china is the top producer of thermal coals. You can have your own political opinions but can't fake these facts written in hard numbers.
Yes, because we are all buying a new dishwasher every other week and cars don't get recycled fully. We burn all that steel in the garbage incinerator. :-)
One of the statistics mentioned here seems peculiar. It stated that theU.S. is the world's largest net importer of steel. Yet I've read that China is by far the world's largest consumer of steel. The only way these two statistics can be reconciled is if China sources most of its steel domestically. And yet, they were importing a LOT from Australia and other countries.
Tell me about it. I had to take a lay-off check from a good contractor cause the solar panels went from a 3 week to 3 month delay because of the cargo ship congestion off California.
Banks will never hand out low interest rates for expanding steel industries in US, so it's cheaper to import them. Despite Trump's protectionist policies, large companies failed to expand production. In any case, steel dumping plays a major issues that prevents major investments into steel related industries.
Yes, poor timing for an infrastructure bill. Rosevelt proved it could help float the economy but it sure doesn’t need help right now. Inflation is already bad and a huge bill like this will make it worse. Maybe something to slowly lower the price of steel over time would be okay. If private sector spending was to drop dramatically, we could plunge into a recession pretty easy. I am surprised the spending hasn’t slowed down with the cost of these projects doubling in the last year. I think as we see the currently planned projects completed over the next year, we’ll see an inflation correction that will negatively affect the economy, but will be good to control inflation over the next decade. Right now it is just a cash grab for those who can. Whenever the ports get their crap straight, we’ll start to see the correction..
The flip side is that building significant capacity can more easily be done when you know demand is high. I've worked in mega projects and the biggest block at the start often is knowing that you will have demand long term. US infrastructure Is in such dire need that no bill can practically solve the problem, it can just make it mildly less bad.
@@lawxx6 There's no such a thing as a price shortage. If prices go up, it's because of too much demand or not enough supply. Now, we have to understand why the supply is lower than the demand. In this case, it's not enough people working in the mills.
Why would the bubble pop for real goods but not for imaginary crap like the financial system? LOL. They hope to get real good for cheap and watered down dollars.
I saw that GM recently signed a contract with Nucor to source low or zero carbon steel for the next generation of EVs. We need more pressure being put on the industry to clean up.
I honestly don't think they will. They are hundreds of millions in the minus each year that gets compensated by TSN (Tata steel Netherlands). so once they de-couple UK will need to have a change of strategy real fast to even stay alive. TSN will get a lot of opportunities to invest in more efficient and better for the environment production.
@@lucaskp16 Between OSHA and company safety protocols its not very dangerous. Most of our grandparents and great grandparents made their living in steel mills.
@@lucaskp16 Very safe work, just hard to find people that want to work and have good work ethics, people are just lazy and will only take cushy jobs, they just want everything handed to them. So sad. I am glad that US steel is doing well and investing in new plants creates even more jobs.
And raised the cost of manufacturing goods and construction that uses steel. Cost about 100,000 good paying manufacturing and construction jobs, pre Pandemic.
trump helped everything for the USA - PERIOD. Economy, jobs, national defense, stock market, you name it. Ignorant democrats that are easily swayed by liberal lies just parrot low intelligence comments.
If people noticed this was a different kind of news in which only main components of the issue was highlighted at its best, this bare minimal and to the point style is much appreciated!!
Rajesh Krishnan US is alloy only, you India people should know that MSNBC news it is, for low educated levels! Style on social media? Germans understand steel, not the US!!!!!!!
The answer at 10:14 is simple automation. As a current engineer working in automation these steel companies mentioned are investing heavily in new systems and automation technologies. Blue worker employment is these industries are still going down since 2008. So if you think you benefit from these high steel pricess most likely you are not.
My EAF mill employs more than 500 people. 50 years ago the same kind of Mill might have needed 2000. Technology will eventually do that to all industries. I’m just happy to be working.
Trust me, im a machinist. I machine steel in particular. Steel jobs aint going NOWHERE LMAO. Dude they need people to run them machines you understand that right? My boss said yesterday hed hire 25 people tomorrow if they applied. Steel working and machining unions are a dying trade dying for people to learn. Get your facts right homie
Since the days of Carnegie Steel, the companies that survive are the companies that continue to invest capital in their mills. The amount of blue collar manpower to make steel has been declining steadily for 150 years. The industry is not tanking the economy anymore than other business's that continue to invest in more efficient ways to produce their products.
@@ralfnuggs165 lol. I see the opposite. Me + 3 CNC machines can outproduce 5 moderately paid machinists on manual machines. The ironic thing is 90% of my business is robotic parts. Soooo...
NICE VIDEO !!! Very engaging from the beginning to the END.Nevertheless business and investment are the best way to make money irrespective of the pandemic 😷
Steel roof panels have gone so high over the last 2 years I had to raise my prices so they're out of most peoples price range. Asphalt shingles are just as bad.
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You wouldn't know there was a steel shortage in the USA if you took any steel to the scrapyard to sell. The price never went up, if at all. Nowhere near what it was ten years ago when it was over $220/ton. Sold some in Sept; 7¢ a pound prepared from cleaning up an estate..
A physical resource that has objective utility develops shortages: a bubble Stock, crypto and other faith-based instruments: a genuine rally that proves how great things keep getting
Right is this person really saying that an intangible product like crypto has more value than steel? And also crypto or stock isnt a bubble? Thats whats wrong with the world but hey you buy stock and ill buy physical goods and well see who does better when the markets crash
High prices a market subsidy to increase production volume that eases prices, an auto regulatory effect of free trade & industrial high volume production
So if the tariffs on steel imports were the deciding tool to keep US steel producers in the market, do people see the self defeating cruelty of the US forcing developing countries into trade agreements that eliminate all tariffs, which only deprives those country the mechanism to shield and nurture home industries to retain the creation of value instead eg. just export raw materials?
No. We no longer want our country to be the worlds charity box while our own people are living in the streets or pay check to pay check wondering wether to pay rent, the bills, or food that month.
