Is Chinese growth in steel production dangerous for the U.S. metals industry?
Yes, but not just for the U.S., for the entire global industry. What’s the solution for the tense dynamic about pricing between metals suppliers and metals users? Is the North American manufacturing base capable of accepting higher price levels for steel? Will higher prices drive away even more manufacturing? Global steel pricing is up not just in U.S. steel. If fairly traded, [pricing] is not the issue despite the rhetoric. The problem is due to currency manipulation, 40 to 50%, and to lack of energy policy and a national manufacturing agenda, 20 to 30%. Higher steel prices are not driving away manufacturers. That’s a complete fallacy. It is government subsidies, offshore currency manipulation, energy costs, litigation costs, healthcare costs, our government’s action and inaction on those things. That is what the grassroots movement is all about—correcting the massive fraud being perpetrated on the American people when it comes to why manufacturing is leaving our shores. It is not lab
