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"Obviously China can't keep producing dirt cheap steel forever" - alternatively, perhaps they continue to drop the price of steel even lower. The possibility o
by ghshephard 11y ago
"Obviously China can't keep producing dirt cheap steel forever" - alternatively, perhaps they continue to drop the price of steel even lower.
The possibility of that is why people aren't purchasing these large ships to wait for the price of steel to rise.
- cconcepts 11y agoAgreed - I'm sure they can drop the price of steel in the short term. But when they're eventually forced to go back to paying Australians $100/hour to dig the ore out of the ground for them, the economic prospects of pulling ships apart for recyclable steel will improve.