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Surging Chinese steel worries northwest Indiana

March 13, 2007

Indiana steel jobs could suffer as China exports more and more subsidized steel to keep its people employed, according to The Times of Munster. The 480 million metric tons of crude steel China is expected to send abroad this year would be at least 13 percent more than 2006 and triple 2000 levels.

The subsidies are expensive: One economist told the newspaper that shipping costs alone to sell steel in the U.S. are greater than the processing cost for a U.S. mill that recycles scrap metal or the labor costs for a U.S. mill that makes steel from scratch.

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