The Covid-19 pandemic threw supply chains into chaos, and steel — an essential metal used in everything from dishwashers to cars — was not immune to these disruptions.
Demand for steel dropped at the beginning of the coronavirus pandemic, but then it quickly skyrocketed. At one point, steel prices were 300% above their pre-pandemic levels at more than $1,900 per ton. Before the pandemic, steel priced betweenSteel's high price tag hasn't really dropped all that much, and some worry it's a bubble that's about to burst.
Steel is essential, why bubble?
Shouldn’t the headline read “Most people are hoping this bubble is about to burst which would make almost everything you buy cheaper” ?
oil is essential too, ladies. take gas out of the equation, anyone know what the rest of that barrel of oil does for every facet of the economy?
Better buying CLF and NUE than C and BAC
The production of steel can't be done by windmills or solar panels. Industry Regulation & unions chased steel production overseas. Woke Government policies are to blame. letsgobrandon
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In 2020, Iron and Steel was the 10th most traded product globally and worth around $335B. The main exporter was China, with $33.8B exported mainly to South Korea and Vietnam. Source:
Trump era tariffs protecting a stagnant industry.
when Trump had tariffs on China it was around .50/lb, Under Biden it is around the $1.00/lb range… Like everything under Biden, its doubled the cost, yet they try and sell you on inflation being under double digit percentages.. like everything else under Biden, is a lie.
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Iogic with I al disruptions, but, they need lot of arms an warfare this year, so perhaps a conversion for steel factories but no collapse. If there shall be one it are the future markets only.
Well half the words steel comes from China. If they don’t have the energy to make it price probably going to stay high.
WhiteHouseCEA SecRaimondo POTUS WHCOS It’s time to remove Steel and aluminum tariffs on China….it’s effecting our ROI on our infrastructure & construction projects ….we need costs to be lower to get out of the mild recession ….& encourage investment in housing markets
Why does that matter if manufacturing is driven away from the US?
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Scrounging for supplies? Maybe scrounge for alternative materials/plastics/rubber.for building.Nothingbeats steel.
CNBC are you even trying Chiba makes almost half the worlds steel and they have been locked down.
About ? lol
Huh?!?!? A simple 5 year chart shows it’s “now down” form 2020…. deflation
Steel is essential, however, we need to invest more in material recycling technologies, there’s lots of plastic scattered around polluting our planet. If we already produced it, recycle it, as it can be used to build road surfaces and even as construction material for housing.
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Recycle... recycle recycle... if it's everywhere then there is tons and tons of it available in every junk yard, ship yard.. and mechanical/electrical parts waste yard... recycle..... and ship containers... recycle
Soon it is gonna burst because of inflation curve started bending down.
If steel and housing are among the things in a bubble, that’s a big part driving inflation numbers, as well as fuel. EV sales, wind and solar are going to take a huge bite out of fossil fuel demand. If these bubbles burst, won’t that pretty much take the bite out of inflation?
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In a nutshell China was the only one to capitalize on the sudden increase of demand as they didn't slow or shut down their steel industries. They were ready to supply once the markets opened up again and demand risen with higher prices and higher profits.
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GETTR IS essential
Good article and video. Grow the use of electric arc furnaces, and recycle scrap steel. Serves strategic objectives, including environmental,and reducing dependency on China..
Junkyard’s all over America are filled with steel that Is going to waste. We are incapable of: ① recycling ② reducing ③ reusing
It’s a commodity where low cost leader wins. It’s usually a poor investment.
I like a viable alternative to steal. 3d printed something, maybe
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I personally think the pandemic has reduced steel production😁
tariffs obviously
Steel is essential to everything but nature.
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Whatever happened to all the tariffs that weee levied …
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