Bethlehem Steel in Buffalo, NY used to be a steel processing company capable of high levels of production and distribution. at one point, they were the 4th largest steel mill in the world. Had over 20K workers. They were on the stock exchange.
Three main factors led to the demise of Bethlehem Steel:
#1. A poorly managed pension fund.
#2. Union rules that made modernization very difficult.
#3. Competition from cheap foreign steel companies.
Well, Bethlehem Steel had multiple locations.
Burns Harbor was the last integrated steel mill built in the USA, and the cost of it was a very significant financial burden on Bethlehem.
When continuous casting came in, it boosted productivity a lot and created a lot of additional supply. That led to lower prices and the high cost producers got killed.
I believe that Burns Harbor did not have continuous casters when it opened - as a cost saving measure.
Had many romantic excursions to festivals in Bethlehem, PA decades ago. At least one of the stacks was still lit at the time. Upon returning home late at night, my fiancé patiently gave me the space to appreciate the distant glow.
Let me kinda explain to you how the American steel nazi’s actually work....
A load of beams comes in from korea.
The steel nazi’s immediately cry DUMPING ...
The imported steel is locked down.
the steel nazi’s then raise their price on to beams, until the claim of dumping is proven false, usually months.
The beams are then released for sale.
The steel nazi’s then lower their price back to normal pricing.
Then a load of plate comes in from poland.
Rinse and repeat.
In over 40 years, only 1 case of dumping has been proven.
Cheap steel
Steel that is used in construction is a certified steel.
In order to be certified, samples of the steel are taken to a laboratory and tested. They must meet the qualifications of say A-36, A-992, A-572, etc.
The standards used are not very loose at all. Your steel either qualifies or it doesn’t. The american steel nazi’s also produce uncertified steel, It’s either chemical only, or cobble plate.
This is cheap steel. Everybody makes it.
Union Labor.
The price per hour of labor plays a very small role in the pricing of steel. As a matter of fact, it’s completely irrelevant.
So, why can’t the American Steel Manufacturers compete?
Government regulations.
Climate Nazi’s.
These people are killing our manufacturing base.
Get the feds off our backs, and watch us go!!!!!
#4 No import tariff