The investment bank is so confident the event will come to pass, it went ahead and trademarked the term "Steelmageddon."
"U.S. production peaked in the 1970s at about 150 million tons. Last year, it generated about 95 million tons. On the eve of the stock market crash in 1929, United States Steel shares reached $260. They haven’t been back since."
"All those require higher prices for toasters and teapots at Target and less entitlement spending and higher taxes, but that’s the price for national survival."
"The report was published on behalf of the four investor networks that make up the Global Investor Coalition on Climate Change and include pension funds and church investment groups from the Nordics, France and the UK."
"The point is, perception is reality and for our performance to be relevant to each customer, the measurement must be as they perceive necessary to match their business model. Delinquent orders will be tracked and measured (as a percentage of order entry trend) and prioritized to minimize disruptions in delivery. This is delivery performance measured as our customers see us.”
"Vale is cutting back production after another dam collapse has management putting a priority on safety, and it's having wide-ranging effects on the iron ore and steel industry."
The tariffs, put through in June 2018 by the Trump administration, targeted countries that "dumped" steel into the United States, a practice that involved artificially lowering commodity costs.
1 China 928,264
2 India 106,463
3 Japan 104,328
...4 USA 86,698
5 South Korea 72,463
6 Russia 71,680
7 Germany 42,440
8 Turkey 37,312
9 Brazil 34,735
10 Iran 25,000
See More"China’s crude steel production in 2018 reached 928.3 Mt, up by 6.6% on 2017. China’s share of global crude steel production increased from 50.3% in 2017 to 51.3% in 2018"