Search
Email a friend
  • To include more than one recipient, please separate each email address with a semi-colon ';', to a maximum of 5

  • By submitting this article to a friend we reserve the right to contact them regarding AMM subscriptions. Please ensure you have their consent before giving us their details.


Letter to the Editor: China steel overcapacity complaints problematic

Jun 24, 2013 | 01:13 PM |

Tags  letter to the editor, Thomas Graham, T.C. Graham Associates, steel overcapacity, currency manipulation, subsidies


To the Editor:

Speakers at AMM’s Steel Success Strategies XXVIII conference in New York June 17-19 who dealt with steel policy issues landed on one theme: overcapacity. It was no surprise to anyone that the finger-pointing all centered on China. This was a very typical steel meeting, and all followed the script as if it had been prescribed.

Whatever our complaints aimed at China, it should be apparent by now that there is no quick fix available. If we are to make any tangible progress, it would have to be achieved through negotiation. We would go to the table with three accusations:

1. China prohibits foreign ownership of protected industry.

2. China manipulates its currency.

3. China is a non-market economy and steel is a subsidized industry.

After listening politely to our catalog of complaints, China would respond:

1. The United States has vetoed China’s efforts to invest in ownership of U.S. businesses.

2. The United States certainly manipulates its currency.

3. The United States is a non-market economy that subsidizes its steel industry (the People’s Republic of Arkansas and Big River Steel LLC).

Our negotiators would have a difficult time!

THOMAS C. GRAHAM
T.C. Graham Associates




Latest Pricing Trends Year Over Year

Poll

Should AMM increase its news coverage of Mexico? Should this also include pricing assessments? And should this be available in the current AMM daily or in a new product dedicated to Mexican coverage?

Yes, write more about Mexico in the current AMM daily.
Yes, write more about Mexico and launch/increase Mexican pricing assessments in the current AMM daily.
Yes, write more about Mexico in a new product and not the current AMM daily.
Yes, write more about Mexico and launch/increase Mexican pricing assessments in a new product, not the current AMM daily.
No, leave things as they are and/or do not make major changes.


View previous results