Steel Mills
March 26, 2017
Forbes Article Suggests Nucor* Responsible for Demise of Steel Industry
Written by John Packard
The article title is “Dan DiMicco’s Nucor Has Killed Off More Of The American Steel Industry Than China Ever Has” and was written by Tim Worstall, a Fellow at the Adam Smith Institute in London, England. The article, which can be seen in its entirety online, points out, “That American steel industry which has suffered more from the competition of Dan DiMicco’s Nucor than it has from anything the Chinese have done.”
His main theme in the article is the growth of the electric arc furnace (EAF) segment of the steel industry has come at the expense of the less nimble fully integrated industry that uses blast furnaces and BOF’s. Technological change, not trade with China, has been the downfall of the integrated steel industry.
