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Asian Steel Demands Affect The US Steel Supply

December 6th, 2005 by Howard Skolnik

Filed under: Industry News

Asia is affecting Western industry and the Asian steel demands are primarily responsible for the price increases that occurred in the US in the last 2 years. As new Asian mills are coming on line, their need for imported steel is lessening and availability of steel to the US has increased. However, Asia is buying huge quantities of raw steel scrap from the US and this is affecting the US steel mills by reducing their available raw scrap. The result is that US steel continues to be priced at historic highs. Prices for steel outside the US are less than what we are paying domestically and therefore, options for importing are, once again, becoming a necessity. The good news is that the domestic steel supplies are stable and our production remains constant.

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