by chuck » Fri Mar 14, 2008 2:43 pm
Seasick wrote:
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Since the Coral Sea was scrapped the price of scrap steel has gone way up. All the copper wire out of the ship should fetch a good price on its own. China is buying up all the scrap metal in sight. Steel mills in the USA that were going out of business 10 years ago are filling orders from Chinese customers becuse the supply is so tight.
Not saying that's not true, but it is surprising considering China imported only 1/10 as much steel as did the US in 2007. According to ISSB, China was largely self sufficient in steel production, producing 490 million tons of steel while importing only 5 million tons. The US produced only 97 million tons of steel while importing 45 million tons.
Where ever increased American steel production is going, it's not likely going to China.
[quote="Seasick"]
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Back to the topic
Since the Coral Sea was scrapped the price of scrap steel has gone way up. All the copper wire out of the ship should fetch a good price on its own. China is buying up all the scrap metal in sight. Steel mills in the USA that were going out of business 10 years ago are filling orders from Chinese customers becuse the supply is so tight.[/quote]
Not saying that's not true, but it is surprising considering China imported only 1/10 as much steel as did the US in 2007. According to ISSB, China was largely self sufficient in steel production, producing 490 million tons of steel while importing only 5 million tons. The US produced only 97 million tons of steel while importing 45 million tons.
Where ever increased American steel production is going, it's not likely going to China.