Posted on 05/29/2008 4:06:20 AM PDT by syriacus
The American steel industry is enjoying a new era of prosperity [snip]
Buoyed by sharply reduced employee costs, soaring global demand, dramatic consolidation that has tamped down cutthroat competition, and a weakened dollar that has made imports less attractive, steel prices have tripled in the past five years. For the first time in decades, companies operating in America have added capacity and workers.
[snip]
"There hasn't been this much building in 25 to 30 years," the president of Locker Associates, a steel consulting firm, Michael Locker, said. "We are in a new period here. I don't see us going back to the old period of high imports and low prices."
Steel companies have also become hot investments. As a group they have outperformed the overall stock market by wide margins in recent years.
(Excerpt) Read more at nysun.com ...
Good news like this is like opening a window on a fresh spring day.
Well-stated!
Certainly not an article to be seen in the NYSlimes. As usual, the old media ignores this positive news.
Here is my plan for the nation suffering from high energy costs: Return of manufacturing done in China to the US and here is why it will work. The energy cost of manufacturing goods in China is comparable to manufacturing the same in the US. The energy cost to ship those goods made in China back to the US is removed from the equation since domestic shipping is all that is required once manufacturing returns to the homefront. Stop buying all the China-made junk and let the pigs squeal.
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