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Non-Tech : RECY Looking Good... A
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To: James Strauss who wrote (5927)10/2/1998 8:25:00 AM
From: Brewmeister  Read Replies (1) of 7006
 
Interest rates will not save the day in the short term, too many other factors. The steel industry is going after the foreign suppliers for dumping in what appears to be a very large and unprecedented way.

The dumping has drven stell prices down, scrap prices down and domestic demand down. Getting a decsion for import duties could help, but may take a while.

I saw an article about Ohio steel makers. I'll try to post later. General gist was that US stell has made significant investments over the last few years and is the moost efficient int he world. The fact that imported prices are so low is clear dumping. They go on to state that if the government does not move quickly, they risk a number of business failures and job loss.

Dan
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