Steel as well. The big integrated U.S. steelmakers like U.S. Steel went bankrupt because most steel today is no longer produced from iron ore. Rather, somethi

Steel as well. The big integrated U.S. steelmakers like U.S. Steel went bankrupt because most steel today is no longer produced from iron ore. Rather, something like 80% of the steel produced today is made by melting down scrap steel in electric arc furnaces, which is a completely different technology & supply chain stack.