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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (2785)	3/11/2004 2:24:56 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

US industry feels China's cold steel By Greg Schneider Washington March 12, 2004 Small US manufacturers have asked Congress for relief from rising steel prices, which they say threaten to drive them out of business. "We need your help, and we need it fast, or we will lose manufacturing in the United States permanently," Barbara Hemme of Youngberg Industries told the House Committee on Small Business. Representatives of bigger steel industries, led by International Steel Group chief Wilbur Ross jnr, told the committee that prices should ease soon as several unusual factors get resolved, such as a hiccup in the availability of coke for running blast furnaces and the volume of scrap metal available for processing. Mr Ross defended domestic steel mills against charges that they were profiteering at the expense of small manufacturers. But he agreed that there was one aspect of the crisis where the government could help: getting tough on cheap competition from China. "The evil is China. The evil is not the domestic mills," he said. "The real reason (small manufacturers) are feeling pressure is that China subsidises its industry . . . That's illegal and they shouldn't get away with it." theage.com.au