Steel: Price and Policy Issues
Abstract
Steel prices remain at historically elevated levels. The rapid growth of steel production and demand in China is widely considered as a major cause of the increases in both steel prices and the prices of steelmaking inputs. Steel companies have achieved much greater pricing power, in part through an ongoing consolidation of the industry. Most of the integrated side of the industry, nearly half of U.S. production, is controlled by just two companies: U.S. Steel, the traditional industry leader, and Mittal Steel, itself the result of multiple international mergers. Moreover, Mittal in 2006 merged with the global number-two producer, Arcelor. Nucor and Gerdau have been active major consolidators of U.S. minimill production.
Document Details
- Document Type
- Technical Report
- Publication Date
- Aug 31, 2006
- Accession Number
- ADA456416
Entities
People
- Stephen Cooney
Organizations
- Library of Congress