re: #250 The Vicious Babushka

The corporations see how much cheaper it is to produce steel in China so they move all their operations there rather than update the infrastructure here.

To further complicate things, China is cutting capacity, and in the short term planning to dump production.

“Sagging demand has already impacted China’s steel industry. The State Council, China’s Cabinet, announced earlier last month that crude steel production capacity will be slashed by 100 million tonnes to 150 million tonnes over the next five years.”

“And all of that supply is about to be unloaded onto a world that doesn’t really need it right now.”

finance.yahoo.com