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!
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.
@@eddyg4742 Yes and it's China their currency is not a float and highly controlled. China doesn't allow other companies to sell to their market like tech companies. Energy are paid by the government. So yeah I know.
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.
You are trying to convince the US of this because you don't want it to happen because the opposite is true. The USA will be fine. China will struggle disproportionately.
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.
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.
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.
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
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.
![Noob To Max With DRAGON REWORK In Blox Fruits [FULL MOVIE]](http://i.ytimg.com/vi/LnBMOinoOvA/mqdefault.jpg)
I think this is another sign that the globe is already in recession. We just don't realize it yet.
Oil production cuts for the last 2 years.. but steel gave you the clue?
Oh they realize it...they just don't acknowledge it
You like the rest of the world know nothing about economics
@@machinmon. It won't matter anymore soon enough ...
@Jag-leaper did you really just say " the end is near " 😀😃😄😃😄😄😄 why? Because yer preacher told ya so 😀😃😃😃😄😄
Steel has always been a good indicator we are going into a deep reccesion
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.
The price of steel has been through the roof. Things can’t go up for ever. Expensive to build anything right now with steel.
It's actually low right now from last year
@@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.
😃 that thumbnail looks really cool
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!
Higher quality steel. Smart decision.
The U.S. steel industry is the most protected. Which means that it is the least competitive and most coddled.
Like my balls
As it should be.
I thought US Steel just got bought by Nippon Steel Corporation.
@@Dudeguymansir The deal is not complete and needs approval by the U.S. May be complete in later part of 2024. Or...may be disapproved.
@@Dudeguymansir I think your correct.
Whoever can make quality steel shall win.. 🇺🇲
Quality is king.
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.
@wmk4454 LOL you're creating more problem than solving it.
The US will do whatever makes the protected class richer. Protected class means the rich on wall st.
@@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.
@@eddyg4742 Yes and it's China their currency is not a float and highly controlled. China doesn't allow other companies to sell to their market like tech companies. Energy are paid by the government.
So yeah I know.
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.
You are trying to convince the US of this because you don't want it to happen because the opposite is true. The USA will be fine. China will struggle disproportionately.
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.
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.
Get that guy a cup of coffee.
Haha, why not told the truth about 5 G production in Steel making in China there's not a single production worker on the floor?
I was drawn to this video by the art of the thumbnail and the fear of the title.
The price we pay for sending our manufacturing overseas
The problem in the US is that Chinese steel is sanctioned against, but products such as food cans made in china are not sanctioned.
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
With what money? Do you have money to remodel your home and. OT work for a few years?
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.
US steel producers like Armco and US Steel ceded the market to them by closing down Bessemer process plants like Ashland ky.
They earned a lot of money during covid, with double or triple the prices stating supply chain issues and now they are whining about less prices
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
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.
Stop depending on foreign countries
“Landowners . . .”
Interesting …Curious about quality / quality of titanium that Boeing purchased ?
Maybe tied to steel quality issues?
That thumbnail is from the phantom menace
So the absence/falling of demand is the reason for crisis?
Pretty much steel has lost 1,000 per unit price in the commodities market that signals or recession
Too bad China still has no demand for steel (rebar) in their bridges, or housing.
It's OK, Governments can print enough bills to restart the fire.
Xi doesn't care about Chinese economy, he only cares about holding onto his power.
No. Printing currency does not make a shortage go away. Only way to do that make more stuff
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.
Should I invest to buy stock of company in steel production? Should I be greedy when everyone got scared, isn't it right?
Make Steel in the West Again.
Waaa! Close up shop and let the Party pay the bills!👍😁
It will not be a problem as BRICS projects will need a lot of steel
Better use bamboo than steel...it's stronger
😂
e.g. Overproduction
Just print mo money. No worries Yeehaw
Vote Trump
To to to today jr!!!