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#steel

18 posts12 participants0 posts today
Public
Emeritus Prof Christopher May

The problem with rescuing British Steel is whether the Govt. will mandate a 'buy British first' strategy for steel in the face of the price competition from a Chinese steel sector that not only dominates world production, but also over-produces for China's domestic demand & so exports at cost (or below cost?) to retain economies of scale?

However, China has been pretty active at the World Trade Organisation disputing measures intended to contain its steel exports.

Diagram: Chinese companies dominate global steel production. Shows relative sizes of Chinese production, US, India, other Asia, & rest of the world. Chinese prediction nearly as much as all other countries with top 50-steel producing companies, together.
#steel#economics#WTO
Public
Jack of all trades

"""
The UK government took effective control Saturday of Britain’s last remaining factory that makes steel from scratch from its Chinese owners, after lawmakers approved an emergency rescue.

(...)

Jingye has said the Scunthorpe plant is losing 700,000 pounds ($910,000) a day as a result of challenging market conditions and increased environmental costs.
"""

edition.cnn.com/2025/04/12/eur

CNN · British government takes over running of UK’s last major steel plant from Chinese owner JingyeBy Associated Press
#UK#steel
Public *
Peter Nimmo

I see we are #nationalising #steel now- but it needs an emergency law and Parliament sitting on a Saturday to do so. The #UK government can no longer leave such strategic industries in private (or foreign- in this case, Chinese) hands on these uncertain times. Apparently the biggest customer of the Scunthorpe plant is Network #Rail- it's the only plant making steel rails in the UK

Continued thread
Public
Nonilex

The WH clarified that the 125% tariff rate on #China is in addition to Trump’s previous 20% tariff on China for its role in supplying #fentanyl & fentanyl precursors. So Trump has added #tariffs of 145% to China since coming into office.

This is on top of levies Trump put on China in his 1st term, which ranged up to 25% They also go on top of other tariffs the US has put on Chinese products for violating #trade rules, as well as Trump’s #tariffs on #steel, #aluminum & #cars.

#economy
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beSpacific

Some facts about the #economy - The #WhiteHouse says the 25% #tariff on goods from #Canada and #Mexico will stay in place. #EuropeanUnion #EU officials have approved a new round of #retaliatory #tariffs on U.S. goods. Starting as soon as April 15, the tariffs—ranging from 10% to 25%—will apply to over $24 billion worth of products, including #tobacco, #motorcycles, #poultry, #steel, and #aluminum. #trump announced on #TruthSocial that #maga should buy stock this morning - we did not see that!

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