Yes, and that is what they are doing...
Posted on: March 2, 2018 at 08:10:20 CT
DoltfromSTL MU
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Starting in 2010, the Chinese economy began to slow down and its need for steel diminished. But Chinese steel production didn’t slow down in response — creating a glut of steel in the global marketplace that lowered prices and threatened steel mills across the globe. International steel prices plummeted from more than $500 per ton in 2012 to $50 a ton in 2016.