The latest steel
news from U.S is that the President and CEO of United States Steel
Corporation have networked with steel industry executives and with the
United Steelworkers. The main objective is to force congress for stopping
unfair trade practices. Further the intention is to force congress to enforce
American trade laws so that the economic and national security of the country
can remain intact.
United States Steel
Corporation which has 24,000
plus employees domestically is in the list of leading integrated steel
manufacturers. U.S Steel Corporation also produces value added steel sheet
for different uses such as industrial machinery, automotive industry,
containers, appliances etc.
The main issue
raised by U.S Steel Corporation is the threatening increase in import of Oil
Country Tubular Goods (OCTG) in local market. The concern is that the high level
of import is affecting the position of U.S steel in tubular market. This high
level of dumping of OCTG goods which plays a vital role in any country's energy
infrastructure is being done by South Korea. The immense dumping is being done
with the smart pricing strategy that is penetrating the foreign market with
unfair low prices. This has also raised concerns regarding 1000s of jobs of
American workers.
United States steel
corp. has already filed
a case along with others against the illegal dumpling of South Korea. Alcoa stock, one of the major
company from Aluminum industry is running smoothly with no such crises.
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