Todd Zaun and Wayne Arnold had a fine article in the NYTimes today about rising Shortages in the supply of Steel worldwide, due to the booming American economy. It missed the primary point which impacts Americans. Japanese and Chinese are locking up iron ore, coking coal, and steel-making capacity worldwide, through long-term Contracts or actual facility purchases.
American and Euro have not joined in the Bidding frenzy, and it will be to their hazard. Both Regions will have to duplicate the Steel production capacity being lost through Japanese and Chinese acquisition, and then go looking for spare coking coal and iron ore. It will be especially difficult for Americans to acquire, due to the Great One's spending habits which are depreciating the Dollar. lgl
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