@@williambrouwers5664 It's a flawless Peter Wright :) Wrought Iron, only the face is steel. I'm not even a blacksmith, it just looked so cool, I had to have it!
If people noticed this was a different kind of news in which only main components of the issue was highlighted at its best, this bare minimal and to the point style is much appreciated!!
Rajesh Krishnan US is alloy only, you India people should know that MSNBC news it is, for low educated levels! Style on social media? Germans understand steel, not the US!!!!!!!
@@gtn9 yeah and that will lead to everything costing more money, I was reading the other week the food shortages in supermarkets are going to be forever basically. Wtf happened to the world dude
@@watsappenin2865 Its called, " over-population"... If we don't slow down births all over the world which will slow down the raping of the earth's resources, we are going to be effed! If we do keep it in check, we can start to slowly move along and the planet can take a breather and start to heal itself from all the destruction we have caused her :/
@@lucaskp16 Between OSHA and company safety protocols its not very dangerous. Most of our grandparents and great grandparents made their living in steel mills.
@@lucaskp16 Very safe work, just hard to find people that want to work and have good work ethics, people are just lazy and will only take cushy jobs, they just want everything handed to them. So sad. I am glad that US steel is doing well and investing in new plants creates even more jobs.
i work for a big steel producer, we are putting so much money into out plants this year, and next year. Upgrades and much needed repairs, its been awesome, and a lot of work...
I remember prior to covid metal scrap price was low . We had so much of it we were selling it to China . The industry made the choice to sell off the scrap , then buy back the steel from China . Again the American worker gets stinky end of stick . I don't throw metal in with the garbage to end up in a landfill . WE already dug it out of the ground . I take our metal "garbage" to work with me and throw it in the metal scrap bin . Been doing that for 20 years . Stop making BS excuses . We already had the metal here . We shipped it off .
I honestly don't think they will. They are hundreds of millions in the minus each year that gets compensated by TSN (Tata steel Netherlands). so once they de-couple UK will need to have a change of strategy real fast to even stay alive. TSN will get a lot of opportunities to invest in more efficient and better for the environment production.
For those that don't know, traditional integrated mills also use scrap. They add about 20-30% after the BF and then it goes to the BOF to remove impurities and excess carbon. That's when it's actually considered steel.
@@aaronfield7899 basic oxygen furnace. It has a lance (submerged entry nozzle SEN) that pumps oxygen in. The O2 binds with carbon to make CO and CO2. The lime that's added is a flux that binds with the more active elements and O2 to form slag which is removed. After that it goes to ladle metallurgy, where they adjust the chemistry.
@@aaronfield7899 Yes. Traditionally, they could also be poured into ingots sometimes called pigs. Hence the name. Somewhat of a useless fun fact for you.
The answer at 10:14 is simple automation. As a current engineer working in automation these steel companies mentioned are investing heavily in new systems and automation technologies. Blue worker employment is these industries are still going down since 2008. So if you think you benefit from these high steel pricess most likely you are not.
My EAF mill employs more than 500 people. 50 years ago the same kind of Mill might have needed 2000. Technology will eventually do that to all industries. I’m just happy to be working.
Trust me, im a machinist. I machine steel in particular. Steel jobs aint going NOWHERE LMAO. Dude they need people to run them machines you understand that right? My boss said yesterday hed hire 25 people tomorrow if they applied. Steel working and machining unions are a dying trade dying for people to learn. Get your facts right homie
Since the days of Carnegie Steel, the companies that survive are the companies that continue to invest capital in their mills. The amount of blue collar manpower to make steel has been declining steadily for 150 years. The industry is not tanking the economy anymore than other business's that continue to invest in more efficient ways to produce their products.
@@ralfnuggs165 lol. I see the opposite. Me + 3 CNC machines can outproduce 5 moderately paid machinists on manual machines. The ironic thing is 90% of my business is robotic parts. Soooo...
Prices are rising due to an increase in demand. Demand is increasing as the amount of reshored manufacturing jobs increases. We’re on pace to see a total of 220,000 manufacturing jobs reshore to the US up from 160,000 in 2020 which was up from about 140,000 in 2019. The good news is that we’ve got several steel mills under construction in the US set to come online within a year. I know Nucor is planning to build a massive $2.7 billion steel mill somewhere in the mid-west.
Did you know that steel is the most recycled material in the world? In North America, we recycle around 80 million tons of steel each year. That’s more than the weight of all of the cars in the entire state of California. It’s also more than all the paper, plastic, aluminum and glass we recycle each year combined.
@@investigativejournalism8393 For "Investigative Journalism" you didn't do a very good job of investigating the context of the original post. The post was about North America so I was commenting about North America.
You wouldn't know there was a steel shortage in the USA if you took any steel to the scrapyard to sell. The price never went up, if at all. Nowhere near what it was ten years ago when it was over $220/ton. Sold some in Sept; 7¢ a pound prepared from cleaning up an estate..
Steel roof panels have gone so high over the last 2 years I had to raise my prices so they're out of most peoples price range. Asphalt shingles are just as bad.
Steel prices have almost killed our business ..... we use a ton of oil temper to coil springs , this time a year ago it was .62 per lb , it's now .97+ per lb . Lead times went from 2 weeks to over 12 weeks + and most wire companies we use couldn't even give us a answer on when they'd get it .
We are seeing the importance of energy independence or atleas the option to be independent. All of those shortages you listed are energy including steel. China cant run their mills and thus global steel supply drops.
Just In Time Supply Chains! Inventory and spare capacity is the enemy! Except the company that invented that KoolAid learned its limits. So they stockpiled what? Computer chips. When Toyota head-fakes the entire capitalist world....
A physical resource that has objective utility develops shortages: a bubble Stock, crypto and other faith-based instruments: a genuine rally that proves how great things keep getting
Right is this person really saying that an intangible product like crypto has more value than steel? And also crypto or stock isnt a bubble? Thats whats wrong with the world but hey you buy stock and ill buy physical goods and well see who does better when the markets crash
And raised the cost of manufacturing goods and construction that uses steel. Cost about 100,000 good paying manufacturing and construction jobs, pre Pandemic.
trump helped everything for the USA - PERIOD. Economy, jobs, national defense, stock market, you name it. Ignorant democrats that are easily swayed by liberal lies just parrot low intelligence comments.
Now if only CNBC can do some exposé on wood and how its hyperinflated prices could be lowered soon. Because when a sheet of 3/4" ply cost $66 - that's killing the house building segment of the new growth market. Why don't we produce our own in this country? Please do a show about this. Thanks.
@@simpleton8148 he's not entirely wrong mate, and similar to carbon emissions, companies are more responsible for excess steel usage than individual people and they can make much more of a difference.
I work in manufacturing as a cost accountant and it is absolutely crazy how raw commodities have increase. It is almost as if the pandemic lockdown allow the hyper fast flow of the American Economy to slow down enough to see the entire picture
yes those are normally for steel recycling, but... "Although steel arc furnaces generally use scrap steel as their primary feedstock, if pig-iron or direct-reduced iron is available economically, these can also be used as furnace feed" edit: (from another source) "electric arc furnaces (EAF) are a common method of reprocessing scrap metal to create new steel. They can also be used for converting pig iron to steel"
High prices a market subsidy to increase production volume that eases prices, an auto regulatory effect of free trade & industrial high volume production
Ive seen metal fabrication companies that make aftermarket steel and aluminum off-road parts for trucks and suv's increase costs citing increased costs of labor and materials (steel + aluminum).
If only there was another, large, freindly nation so oxidized that the abundance of iron is visible from the surface dirt that you could reduce the tarrifs on...
Aluminum & copper prices are up cuz the electrical grid is being restructured in Texas. Steel prices won't go up much more until vehicle manufacturing is back up to speed. Labor shortages are also keeping prices down. However, it is probable that the labor & chip shortage could end @ about the same time, skyrocketing prices overnight.
@@generalx5220 So you don’t know how to look up whole sale lumber prices? Yes they have collapsed. Lumber was over $1500 and is now less than $750 after actually collapsing to less than $500. Basically the same prices as 2018.
@@matthewhuszarik4173 naw not in the are to check. Used to be able to pop my Lowe’s or home deep but that’s not an option now. Cool though, back to normal is good, I thought it was inflationary, you know general price index have gone up from all the money printing
@@averyhuelsbeck3116 You might be going to a recycling center not a garbage dump / landfill. In my area, everything gets dumped in the pit / compacted and covered. Anything in a dumpster gets dumped into the truck and not sorted.
Raises a great societal question. Do we want to pay less for steel imported from other countries like China, or do we want to pay more but support American steel jobs and have the ability to regulate the industry domestically for environmental compliance which I’d imagine will only get more strict as technology improves. Higher steel prices means everything we use costs more, but we’d sacrifice a lot of decent paying middle class jobs in parts of the country that need those and the ability to impose environmental regulations that some of the exporting countries don’t have in place or don’t enforce.
When you buy domestic steel, you aren't really "losing" any of that money. Though it costs consumers more, that money is going into the hands of other us consumers, businesses and of course most important TAX PAYERS. Creating jobs is less about the jobs and more about the fact that this is more tax revenue. Tax revenue that can be spent to offset the increase in costs. Usually this ends up as subsidies. The USA government will give certain industries money in order to sell their product at a lower price point. At the end of the day, (from the USA perspective), money leaving the country to buy stuff is bad, money staying inside the country to make it ourselves is good. The less the USA imports, the stronger the USA dollar gets (less need to print money), which makes imports even cheaper.
Did you know it takes 440 kWH to produce one ton of recycled steel? It takes 260 tons of steel to make one wind tower. It takes 65 wind towers to produce enough electricity to make one ton of steel. So to make those 65 towers, it took 16,900 tons of steel, which required 7,436,000 kWH of energy. Now thats based on the minimum amount of energy needed, it could be substantially more depending on many variables. Every ton of steel produces 1.85 tons of CO2. Every tower made produced 481 tons of CO2, those 65 towers to produce 1 ton of steel created 31,265 tons of CO2. Green energy at it's finest.
Those are _Texan_ wind towers. They have an incentive to make green energy look bad. In most european countries, they are made of fiberglass, not steel.
@@specialopsdave Yeah, RIGHT, tower made from fiberglass. Sorry but fiberglass is not structurally sound enough to support rotor diameters of 100-129 meters. The blades and housing for the gen set may be glass, but the tower is going to be made of steel or concrete, mainly steel.
@@specialopsdave And yet, a search for fiberglass wind towers comes up with blades and nacelles, but nothing about actual towers. Why? Because they can't make then strong enough to support the weight nor the motion of the nacelle and blades. The towers are still going to be steel. Steel can be recycled, fiberglass cannot, and fiberglass breaks down much faster than steel so they have to be replaced quite often, and worse, fill up landfills. I don't know where you heard they make towers from fiberglass, but thats incorrect.
@@acdii I never meant to say towers, I meant to say turbines. My point remains: Steel blades push it over into straight-up environmentaly unfriendly (like in Texas), and plus, only the frame needs to be steel. The tower skin is typically made of fiberglass too (except where they have an incentive to make it environmentally unfriendly) Plus, recycling? Once biodegradable resins become the norm, the glass will turn to sand over time, and it will leave no trace. In the meantime, it leaves nearly no pollution compared to plastic. While I agree that steel is more recyclable, the numbers you referred to about wind turbines being worse for the environment? They don't count the ACTUAL savings from recycling the steel. If you do, then they're always better for the environment than coal or gas. 440KWh? You must be referring to the raw thermal energy when using coal foundries. Arc furnaces are the new hotness, _and they can be turned off when clean energy is unavailable._ Even if your numbers were correct (600 tons of CO2), they'd make it up in the form of clean energy in 2 years.
Recycling steel still requires a large amount of energy. Biggest problem I see in the steel industry is waste of the original product. Cut something wrong? Hole in the wrong place? Dimensions not right? SCRAP IT! Get a new one! For such an energy intense commodity to manufacture there is way too much waste.
Basically only a small percentage of energy required to make new steel out of scrap steel. Check out Nucor's expense sheet compared to the integrated producers.
@@jenisonsound7563 Yes, the " waste " from a cutting operation gets recycled. This grade of metal has a higher value because it is clean Vs say a car body that needs shredded and separated into differing recycling streams. Do a bit of research on scrap metal recycling, this is basically a mining operation. I never want to see metals thrown in the garbage since the only practical way to retrieve them is to wait for the earth to melt and reform. Steel, Stainless Steel, Aluminum, Copper, Brass , Lead < primarily from lead acid batteries ( AKA a common traditional car battery ) are very recyclable. And. . .you can get a few $ in the process.
yeah steel cant really have a bubble because of its purchase not being financed by more than 50% like house sales for example. Prices will definitely be on the rise at least until summer of 2022 probably even more
So if the tariffs on steel imports were the deciding tool to keep US steel producers in the market, do people see the self defeating cruelty of the US forcing developing countries into trade agreements that eliminate all tariffs, which only deprives those country the mechanism to shield and nurture home industries to retain the creation of value instead eg. just export raw materials?
No. We no longer want our country to be the worlds charity box while our own people are living in the streets or pay check to pay check wondering wether to pay rent, the bills, or food that month.
Assuming production can be adjusted as easily. The fact that there's shortages now even though it's known that demand is higher kinda shows it's not as easy
I read recently that from 2009 to 2013 ( I think ), China used more concrete than the United States used in the entire 20th century. If true, that is utterly insane.
@@charlestsai3708 No wonder pollution levels are through the roof - it's insane - a mad rush, when a more considered approach would make greater sense.
@@zen4men Well, everything comes to an end. The mythical growth has since dwindled from 2013. The current CCP administration has integrated the smaller inefficient old steel mills and made them obsolete. I expect the steel price to rise gradually unless India takes on the challenge and burden of growth.
@@TomNook. China has a pretty bad energy/coal shortage right now, and steel takes a hell of a lot of energy and isn't that expensive. It's unlikely that CCP will subsidize anything beyond what's necessary to secure China's internal supply.
The tariffs might have been good for the domestic steel industry, but it was horrible for the construction and housing industries, contributing to skyrocketing housing costs. Working in architecture, my firm lost projects as clients couldn’t afford the double shock of the steel tariffs plus pandemic induced economic issues. It cost American cities new housing projects when there’s a desperate shortage of quality housing and especially _affordable_ housing. The steel tariffs were only one piece of the pie, but pouring more fuel on the fire doesn’t help anyone.
Horrible only in the short term As new steel plants come online, steel prices will drop. And then, shortage of affordable housing is mostly due to how US cities are. No amount of cheap steel or lumber will fix it permanently.
@@beauford731 fundamentally I’ve never been bearish. I mean I haven’t checked the fundamentals too much lately but when I last did, they were rocking it.
I wonder if this pent up demand will mean a revival of the US steel industry. Most likely it won’t mean a revival of steel jobs though because the industry has been getting more automated over time especially in other western countries that still have robust steel production capabilities
We have several steel mills under construction currently. If the infrastructure bill is passed that’ll probably mean a few more. Since the current trends of reshored manufacturing have been going up I’m willing to bet we’re already in a revival phase of the US steel industry.
Up 300% higher then pre covid??! Just like wood, like everything else!! What’s coming next?? The food we buy in stores! Stock up now before the food shortage that’s coming…glad my freezer is stocked with natural fed beef, deer I hunt and fish I caught!!
Next think about how to keep it frozen in the event of long blackouts like china is experiencing now. However unlikely the loss of power for extended periods would be devastating to frozen food storage for individuals and the supply chain. A medium sized battery power bank like a bluetti or other gasless generator would be perfect for a 2-4 day outage.
It can't keep rising. If it did, anything made from steel would also rise just as much. Cars could easily end up costing $100k+ if steel prices tripled.
factories are still closed. Iron minner will be forced to raise prices due to low labor. Pass on to iron mill that just collects fees for refining then pass the high price on consumers. The problem is low labor in the market which causes low productivity of the goods. And everything becomes expensive
@@fcalin21 Same. Whenever I hear someone use decimate to describe loss, I think it's only a 10% loss instead of complete annihilation. It does sound cool and powerful I guess.
I'm.. 50 a.n.d m.y. husband 54 we are both retired with over $3 million in net worth and no debt's. Currently living smart and frugal with our money.serving and investing life style in the stock market made it possible for us this early even till now we earn weekly. Thanks to fire movement.
@@tony2961 Fire means Financial Independence Retire Early. It's been a movement teaching people financial independence and how to retire debt free through solid investment and frugal lifestyle.
@Michael Invests & tries to make Money I can share some that helped me. 1:plan towards it. 2:be frugal and minimal on spending. 3:spend your money on investment. 4:chose your trade analys wisely. 5:invest with a professional trader like Mr Dennis my trade analyst
NICE VIDEO !!! Very engaging from the beginning to the END.Nevertheless business and investment are the best way to make money irrespective of the pandemic 😷
So increase "infrastructure" and at the same time push steel prices even higher causing all other users to pay higher prices and pass that along to their customers. Great plan there Joe.
@@xiaoka All the president has to do is wait it out, that's what they have done for all these past years anyway. All this could have been done a long time ago. But why spend money where it is actually needed when you can spend on others none critical things. Where have the Democrats and Republicans been? It's not like this need just came up. Then again waiting it out with J.B. in charge...things are likely to get worse anyway. So let's just roll the dice
It's a bubble. There are lots of substitutes. Appliances and cars use more and more plastic. Recycling is everywhere, and global integration is way too profitable and is never going away.
Steel workers in America were on strike for three months earlier this year, there was a successful strike this summer by steel workers in India, and a massive strike in South Africa with 150,000 steel workers occurred earlier this month. Idk, could be relevant to this story.
This story is missing a very important factor… China is done subsidizing inefficient steel producers for export. China already removed their export rebates and is now pushing consolidation which will reduce their overall steel production. They are done absorbing pollution just for the sake of making cheaper steel for the west.
Steel and metals will continue to rise. China has a huge production shortfall due to energy issues. It will need months to fire back up to full capacity.
You completely misunderstood the situation. China has been intentionally cutting down steel production since last year, trying to remove inefficient, highly polluted steel mills. That country realized it was not worth polluting own lands (some are even permanent) and air to provide cheap products, exchanging for US bonds.
@@anti-bullingjames China is reducing Australian coal imports and cant find enough to continue running mills and power plans. Everything hit a production slump last year. Aluminum is sky rocketing as well. China can't produce enough to keep up their levels of production. Now with LNG going up all of Asia is about to get hit hard.
I told the wife the anvil that I bought 15 years ago was gonna be a good investment!
It's also very useful; at least according to some cartoons I have been watching
This is one of the cutest comments I've ever seen on TH-cam.
Don't you mean the ball and chain you bought?
As a blacksmith, I really hope you are joking! Those anvils are worth MUCH more than their weight in steel!
@@williambrouwers5664 It's a flawless Peter Wright :) Wrought Iron, only the face is steel. I'm not even a blacksmith, it just looked so cool, I had to have it!
If people noticed this was a different kind of news in which only main components of the issue was highlighted at its best, this bare minimal and to the point style is much appreciated!!
Rajesh Krishnan
US is alloy only, you India people should know that
MSNBC news it is, for low educated levels!
Style on social media?
Germans understand steel, not the US!!!!!!!
It isn't a material shortage. It's a production shortage. Which means it's temporary.
Everything today is a Supply Chain issue..
Very true. There’s one month wait for c-channel which I need to make stair stringers.
@@gtn9 yeah and that will lead to everything costing more money, I was reading the other week the food shortages in supermarkets are going to be forever basically. Wtf happened to the world dude
@@watsappenin2865 We somehow managed to make our own ecosystem difficult for us to exist..
@@watsappenin2865
Its called, " over-population"... If we don't slow down births all over the world which will slow down the raping of the earth's resources, we are going to be effed! If we do keep it in check, we can start to slowly move along and the planet can take a breather and start to heal itself from all the destruction we have caused her :/
Forget steel, the real shortage is common sense.
False product advertising : ”Common!”
More like critical and logical thinking
It’s been a while
Electric Arc smelting still caused Global Warming !
wow so true
US Steel is giving their millwrights $18k bonuses they've done so well this year.
This is probably to retain workers that want to retire since the current crop of young workers don't want to work.
@@bobroberts2371 a steel mill is not exactly the place most people would wanna work. not the most safe or healthy place to work.
@@lucaskp16 Between OSHA and company safety protocols its not very dangerous. Most of our grandparents and great grandparents made their living in steel mills.
@@lucaskp16 I'm open to work there, where do I sign?
@@lucaskp16 Very safe work, just hard to find people that want to work and have good work ethics, people are just lazy and will only take cushy jobs, they just want everything handed to them. So sad. I am glad that US steel is doing well and investing in new plants creates even more jobs.
Bethlehem Steel was one of my first stock trades that went bankrupt and sent 3,500.00 of my dollars to money heaven.
😭
Money heaven hahah
didn't they supply steel doors to Auschwitz?
Bethlehem steel was mismanaged into the ground.
How long ago may I ask?
i work for a big steel producer, we are putting so much money into out plants this year, and next year. Upgrades and much needed repairs, its been awesome, and a lot of work...
I remember prior to covid metal scrap price was low . We had so much of it we were selling it to China . The industry made the choice to sell off the scrap , then buy back the steel from China . Again the American worker gets stinky end of stick . I don't throw metal in with the garbage to end up in a landfill . WE already dug it out of the ground . I take our metal "garbage" to work with me and throw it in the metal scrap bin . Been doing that for 20 years . Stop making BS excuses . We already had the metal here . We shipped it off .
Finally British Steel might make their first profit after decades of loses.
Took long enough let's hope they live alot more years
What are you talking about? That album made a profit, broke the band stateside.
I honestly don't think they will. They are hundreds of millions in the minus each year that gets compensated by TSN (Tata steel Netherlands). so once they de-couple UK will need to have a change of strategy real fast to even stay alive. TSN will get a lot of opportunities to invest in more efficient and better for the environment production.
Are they alive?
This video is great timing for me especially because I’ve been Tracking the collapse of iron or prices compared to steal
*Clifford Charles* Yeah? Are you planning to steal some steel?
For those that don't know, traditional integrated mills also use scrap. They add about 20-30% after the BF and then it goes to the BOF to remove impurities and excess carbon. That's when it's actually considered steel.
BOF?
@@aaronfield7899 basic oxygen furnace. It has a lance (submerged entry nozzle SEN) that pumps oxygen in. The O2 binds with carbon to make CO and CO2. The lime that's added is a flux that binds with the more active elements and O2 to form slag which is removed. After that it goes to ladle metallurgy, where they adjust the chemistry.
@@jeffquinlan4064 Oh, so Pig iron is the metal transported from the BF to the BOF?
@@aaronfield7899 Yes. Traditionally, they could also be poured into ingots sometimes called pigs. Hence the name. Somewhat of a useless fun fact for you.
Lies again? Spank Bang
The answer at 10:14 is simple automation. As a current engineer working in automation these steel companies mentioned are investing heavily in new systems and automation technologies. Blue worker employment is these industries are still going down since 2008. So if you think you benefit from these high steel pricess most likely you are not.
Yes even china itself have a full automation on their steel mills th-cam.com/video/qB-yfZmMDWs/w-d-xo.html
My EAF mill employs more than 500 people. 50 years ago the same kind of Mill might have needed 2000. Technology will eventually do that to all industries. I’m just happy to be working.
Trust me, im a machinist. I machine steel in particular. Steel jobs aint going NOWHERE LMAO. Dude they need people to run them machines you understand that right? My boss said yesterday hed hire 25 people tomorrow if they applied. Steel working and machining unions are a dying trade dying for people to learn. Get your facts right homie
Since the days of Carnegie Steel, the companies that survive are the companies that continue to invest capital in their mills. The amount of blue collar manpower to make steel has been declining steadily for 150 years. The industry is not tanking the economy anymore than other business's that continue to invest in more efficient ways to produce their products.
@@ralfnuggs165 lol. I see the opposite. Me + 3 CNC machines can outproduce 5 moderately paid machinists on manual machines. The ironic thing is 90% of my business is robotic parts. Soooo...
You can print dollars but you can't print steel. More dollars chasing a limited supply of a resource, it's only logical that the price will rise.
Prices are rising due to an increase in demand. Demand is increasing as the amount of reshored manufacturing jobs increases. We’re on pace to see a total of 220,000 manufacturing jobs reshore to the US up from 160,000 in 2020 which was up from about 140,000 in 2019. The good news is that we’ve got several steel mills under construction in the US set to come online within a year. I know Nucor is planning to build a massive $2.7 billion steel mill somewhere in the mid-west.
There is going to be billions of gasoline cars heading for the recycling heap in the next 10 years. This is a non issue.
Fortunatly steel isnt a key material in electric cars
*Davidon* Is not manufacturing steel analogous to printing paper money?
@@peereboom2936 right, the body is made of plastic....uh ha
Did you know that steel is the most recycled material in the world? In North America, we recycle around 80 million tons of steel each year. That’s more than the weight of all of the cars in the entire state of California. It’s also more than all the paper, plastic, aluminum and glass we recycle each year combined.
But lead has the highest percentage of being recycled at over 99% in North America.
@@SuperSandwich18 No,Scrapped steel is in most places Like Bangladesh, India, China.......
@@SuperSandwich18 I believe that. Watched a documentary where car batteries were recycled into bullets ! Almost no waste . 👍
I heard the same about asphalt
@@investigativejournalism8393 For "Investigative Journalism" you didn't do a very good job of investigating the context of the original post. The post was about North America so I was commenting about North America.
You wouldn't know there was a steel shortage in the USA if you took any steel to the scrapyard to sell. The price never went up, if at all. Nowhere near what it was ten years ago when it was over $220/ton. Sold some in Sept; 7¢ a pound prepared from cleaning up an estate..
We are all getting out chains yanked, it's not like there is a law that scrapyards have to pay wall street prices quotes.
Steel roof panels have gone so high over the last 2 years I had to raise my prices so they're out of most peoples price range. Asphalt shingles are just as bad.
N nnnnnnnnnnnnnnn
@@amoghchengappa1937 yyyyyyyyyy yyyyyyyyy
how bout fiber glass ?
Steel prices have almost killed our business ..... we use a ton of oil temper to coil springs , this time a year ago it was .62 per lb , it's now .97+ per lb . Lead times went from 2 weeks to over 12 weeks + and most wire companies we use couldn't even give us a answer on when they'd get it .
Every industry makes up these shortages to jack up the prices 😂 it's in style.
Basic supply and demand
"the cure for high prices - is high prices". Well said.
This is the most ambitious Victoria 2 reference the real world has ever made.
Lmao
I've been paying through the nose for steel for the last 6 months. It's now almost $1.20/# for cold rolled.
Agreed. Tool steel is especially sky rocketing. 4340 and H-13 keeps jumping in price so frequently.
US: steel shortage
UK: fuel shortage
India: Coal shortage
China: power cuts
WTF is happening🙄
well there’s more to come
We are seeing the importance of energy independence or atleas the option to be independent. All of those shortages you listed are energy including steel. China cant run their mills and thus global steel supply drops.
Just In Time Supply Chains! Inventory and spare capacity is the enemy!
Except the company that invented that KoolAid learned its limits.
So they stockpiled what?
Computer chips.
When Toyota head-fakes the entire capitalist world....
Food shortages in the future too.
The Great Reset
A physical resource that has objective utility develops shortages: a bubble
Stock, crypto and other faith-based instruments: a genuine rally that proves how great things keep getting
Seriously underrated comment.
Was looking for this comment.
Thats not how value works.
Right is this person really saying that an intangible product like crypto has more value than steel? And also crypto or stock isnt a bubble? Thats whats wrong with the world but hey you buy stock and ill buy physical goods and well see who does better when the markets crash
@@jasonhutchins9239 Value is subjective.
So Trumps tariff made US steel industry viable and helped during pandemic .
The USA needs to maintain it manufacturing capabilities. If not we are held hostage to foreign entities.
And raised the cost of manufacturing goods and construction that uses steel. Cost about 100,000 good paying manufacturing and construction jobs, pre Pandemic.
In other words, he increased the price of steel and increased the cost of other industries and government infrastructures.
trump helped everything for the USA - PERIOD. Economy, jobs, national defense, stock market, you name it. Ignorant democrats that are easily swayed by liberal lies just parrot low intelligence comments.
I will agree the price did sky rocket
We bought sheets of steel 5 foot by 10 foot 11 gauge for 163.00 a sheet 2020. Now it's 463.00
10 11 2021
Literally running an iron farm on Minecraft in the background lol.
Now if only CNBC can do some exposé on wood and how its hyperinflated prices could be lowered soon. Because when a sheet of 3/4" ply cost $66 - that's killing the house building segment of the new growth market. Why don't we produce our own in this country? Please do a show about this. Thanks.
There are so many shortages I’m surprised we haven’t collapse beneath the weight of our greed
There is still time for that..
Try and remove steel from your life. Be an example
The bubble is about to explode...
@@simpleton8148 he's not entirely wrong mate, and similar to carbon emissions, companies are more responsible for excess steel usage than individual people and they can make much more of a difference.
@@Joel-ee4yh developinig status means double standard climate change regulations so rich get cheap outsource all the time
I work in manufacturing as a cost accountant and it is absolutely crazy how raw commodities have increase. It is almost as if the pandemic lockdown allow the hyper fast flow of the American Economy to slow down enough to see the entire picture
We’re moving toward cryptocurrency
@@oofoof5150 no, you are
It's all a big game for these politicians and wealthy and we all get stuck with the results.
Facts
Invest
@@beauford731 wow 😲 that's it. That easy "invest" derp 🤦
Now I know why the u.s. navy sold 2 air craft carriers for a penny.
For 90% of the video, they haven't addressed the heading
Thats because they have kids with no understanding of the industry pretending to be journalists,
These videos are why I follow CNBC
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What about Valyrian steel? 🤔
Always in short supply because the Valyrians all died.
Valar morghulas.. Or something something
It's weak as hell. Vibranium is where it's at.
That bubble will never pop.
The electric arc furnaces is for steel recycling not making.
yes those are normally for steel recycling, but...
"Although steel arc furnaces generally use scrap steel as their primary feedstock, if pig-iron or direct-reduced iron is available economically, these can also be used as furnace feed"
edit: (from another source)
"electric arc furnaces (EAF) are a common method of reprocessing scrap metal to create new steel. They can also be used for converting pig iron to steel"
High prices a market subsidy to increase production volume that eases prices, an auto regulatory effect of free trade & industrial high volume production
Ive seen metal fabrication companies that make aftermarket steel and aluminum off-road parts for trucks and suv's increase costs citing increased costs of labor and materials (steel + aluminum).
Other materials Will Stay around and Yes Subsitutes will b great too
Steel and aluminium demand is huge in Canada for sustainable building
If only there was another, large, freindly nation so oxidized that the abundance of iron is visible from the surface dirt that you could reduce the tarrifs on...
Australia has limited steel production capacity, they really only focus on the mining part.
If only we preference exporting iron to the us over China, make them pay for blocking coal
When they blocked our coal it's price more than doubled.
Any other future dickheads want to block our exports? You'll raise the worldwide price
Aluminum & copper prices are up cuz the electrical grid is being restructured in Texas. Steel prices won't go up much more until vehicle manufacturing is back up to speed. Labor shortages are also keeping prices down. However, it is probable that the labor & chip shortage could end @ about the same time, skyrocketing prices overnight.
Same thing will happen to steel that happened to lumber. Bubble will burst.
Capitalism!
Lumber prices burst?
@@generalx5220 So you don’t know how to look up whole sale lumber prices? Yes they have collapsed. Lumber was over $1500 and is now less than $750 after actually collapsing to less than $500. Basically the same prices as 2018.
@@matthewhuszarik4173 naw not in the are to check. Used to be able to pop my Lowe’s or home deep but that’s not an option now. Cool though, back to normal is good, I thought it was inflationary, you know general price index have gone up from all the money printing
I give it 2023 for steel to get back to normal hopefully 🙏
keep buying and investing in stocks or crypto,soon Bitcoin will hit $100,000
Bitcoin is the future, investing in it now will be the wisest thing to do especially with the current rise in Bitcoin
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@Coyote Mangan these comments are scams I've seen them they make a comment which magically gains likes and bot comments
The people of Western Australia have benefited greatly from the steel spike 😀👍
I’m seeing record hauling of steel at my local dump.
Maybe this is what all the people with yards full of junk have been waiting on.
@@jasonmorgan4108 They better do it while they can
Why are they taking recyclable material that will pay $ at a scrap yard to a garbage dump where they have to pay to get rid of it?
@@bobroberts2371 most all dumps recycle steel
@@averyhuelsbeck3116 You might be going to a recycling center not a garbage dump / landfill. In my area, everything gets dumped in the pit / compacted and covered. Anything in a dumpster gets dumped into the truck and not sorted.
Raises a great societal question. Do we want to pay less for steel imported from other countries like China, or do we want to pay more but support American steel jobs and have the ability to regulate the industry domestically for environmental compliance which I’d imagine will only get more strict as technology improves.
Higher steel prices means everything we use costs more, but we’d sacrifice a lot of decent paying middle class jobs in parts of the country that need those and the ability to impose environmental regulations that some of the exporting countries don’t have in place or don’t enforce.
It feels like to me a national security issue
When you buy domestic steel, you aren't really "losing" any of that money. Though it costs consumers more, that money is going into the hands of other us consumers, businesses and of course most important TAX PAYERS. Creating jobs is less about the jobs and more about the fact that this is more tax revenue. Tax revenue that can be spent to offset the increase in costs. Usually this ends up as subsidies. The USA government will give certain industries money in order to sell their product at a lower price point.
At the end of the day, (from the USA perspective), money leaving the country to buy stuff is bad, money staying inside the country to make it ourselves is good. The less the USA imports, the stronger the USA dollar gets (less need to print money), which makes imports even cheaper.
"the US also imports a ton of steel"
damn thats one helluva shortage
Great documentary
You know who celebrate steel shortage the most? Wile E. Coyote!
Anyone else remember the commodities super-cycle back around 2005? And what happened next?
6:13 "...the us also imports a ton of steel." One ton of steel....crazy
I also heard "a ton of miles" . Americans are a wierd bunch.
it's a figure of speech, it means "lots of"
later they say it's 16Mt in 2021 and counting
Did you know it takes 440 kWH to produce one ton of recycled steel? It takes 260 tons of steel to make one wind tower. It takes 65 wind towers to produce enough electricity to make one ton of steel. So to make those 65 towers, it took 16,900 tons of steel, which required 7,436,000 kWH of energy. Now thats based on the minimum amount of energy needed, it could be substantially more depending on many variables. Every ton of steel produces 1.85 tons of CO2. Every tower made produced 481 tons of CO2, those 65 towers to produce 1 ton of steel created 31,265 tons of CO2. Green energy at it's finest.
Those are _Texan_ wind towers. They have an incentive to make green energy look bad. In most european countries, they are made of fiberglass, not steel.
@@specialopsdave Yeah, RIGHT, tower made from fiberglass. Sorry but fiberglass is not structurally sound enough to support rotor diameters of 100-129 meters. The blades and housing for the gen set may be glass, but the tower is going to be made of steel or concrete, mainly steel.
@@acdii Results don't lie, and results say they are strong enough
@@specialopsdave And yet, a search for fiberglass wind towers comes up with blades and nacelles, but nothing about actual towers. Why? Because they can't make then strong enough to support the weight nor the motion of the nacelle and blades. The towers are still going to be steel. Steel can be recycled, fiberglass cannot, and fiberglass breaks down much faster than steel so they have to be replaced quite often, and worse, fill up landfills.
I don't know where you heard they make towers from fiberglass, but thats incorrect.
@@acdii I never meant to say towers, I meant to say turbines. My point remains: Steel blades push it over into straight-up environmentaly unfriendly (like in Texas), and plus, only the frame needs to be steel. The tower skin is typically made of fiberglass too (except where they have an incentive to make it environmentally unfriendly)
Plus, recycling? Once biodegradable resins become the norm, the glass will turn to sand over time, and it will leave no trace. In the meantime, it leaves nearly no pollution compared to plastic.
While I agree that steel is more recyclable, the numbers you referred to about wind turbines being worse for the environment? They don't count the ACTUAL savings from recycling the steel. If you do, then they're always better for the environment than coal or gas. 440KWh? You must be referring to the raw thermal energy when using coal foundries. Arc furnaces are the new hotness, _and they can be turned off when clean energy is unavailable._ Even if your numbers were correct (600 tons of CO2), they'd make it up in the form of clean energy in 2 years.
Recycling steel still requires a large amount of energy. Biggest problem I see in the steel industry is waste of the original product. Cut something wrong? Hole in the wrong place? Dimensions not right? SCRAP IT! Get a new one! For such an energy intense commodity to manufacture there is way too much waste.
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Basically only a small percentage of energy required to make new steel out of scrap steel. Check out Nucor's expense sheet compared to the integrated producers.
Isn't the "waste" recycled? Genuinely asking.
@@jenisonsound7563 Yes, the " waste " from a cutting operation gets recycled. This grade of metal has a higher value because it is clean Vs say a car body that needs shredded and separated into differing recycling streams.
Do a bit of research on scrap metal recycling, this is basically a mining operation. I never want to see metals thrown in the garbage since the only practical way to retrieve them is to wait for the earth to melt and reform.
Steel, Stainless Steel, Aluminum, Copper, Brass , Lead < primarily from lead acid batteries ( AKA a common traditional car battery ) are very recyclable. And. . .you can get a few $ in the process.
RS, so how do propose to reduce waste?
Aren't "bubble pops" assets that drop in value due to being overvalued/overproduced for a long time? This is the complete opposite.
yeah steel cant really have a bubble because of its purchase not being financed by more than 50% like house sales for example. Prices will definitely be on the rise at least until summer of 2022 probably even more
So if the tariffs on steel imports were the deciding tool to keep US steel producers in the market, do people see the self defeating cruelty of the US forcing developing countries into trade agreements that eliminate all tariffs, which only deprives those country the mechanism to shield and nurture home industries to retain the creation of value instead eg. just export raw materials?
How’s that Argentinian economics working for you?
No. We no longer want our country to be the worlds charity box while our own people are living in the streets or pay check to pay check wondering wether to pay rent, the bills, or food that month.
Ask the Chinese, they are experts at it.
Prices aren't increasing, the value of the dollar is decreasing.
A modest decrease in the value of currencies does not constitute a 300% price increase
Shhhh. Don't let them know
Remember, you can always use the printer to keep up with the prices.
Who cares ? 1 trillion dollar platinum coin? Printer brrrrr😎
wrong, dollar is strong. doesnt buy as much bc goods r more expensive
Everything will go back to normal by next year, once production and demand adjust to a post Covid world.
Yup
Assuming production can be adjusted as easily. The fact that there's shortages now even though it's known that demand is higher kinda shows it's not as easy
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Not really if they continue to print
I hope so!!
I read recently that from 2009 to 2013 ( I think ), China used more concrete than the United States used in the entire 20th century.
If true, that is utterly insane.
Its true!! Basically all of China was a big construction site to revamp their whole infrastructure in the last 20 years.
@@charlestsai3708 No wonder pollution levels are through the roof - it's insane - a mad rush, when a more considered approach would make greater sense.
@@zen4men Well, everything comes to an end. The mythical growth has since dwindled from 2013. The current CCP administration has integrated the smaller inefficient old steel mills and made them obsolete. I expect the steel price to rise gradually unless India takes on the challenge and burden of growth.
@@charlestsai3708 Quality, not quantity!
@@zen4men Certain scale of economy needs to be reached for the newly installed steel mills to profit.
Despite the Economic crisis it's a good time to start up an investment..
most intelligent words I've heard
investment in cryptocurrency is one of the best ways of making money.
I wanted to trade crypto but got discouraged by the fluctuation in price.
@@hellenmathis1997 that won't bother you if you trade with a professional like Mrs Charlie Morgan.
Hi!
We should be producing 100% of our steel. Not importing any steel outside the country
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President Trump saved the American steel industry. Let's go Brandon!
Trump make america a weak. 🤣🤣🤣 and today he run from america and pay you to selling their name's
@@IVAN.RASYIDIN wat a Karen
No, Orange Man hasn't. Go get an education.
It's real problem for our time. I know it because in my work we also see that the price increased.
철강산업은 절대 무너지지 않는 산업이다 인류는 철강으로 이루어져 있다. 철강산업은 앞으로도 미래가 밝다
Only if you are Acerinox, your future in stainless
If there is a steel 'shortage', how on earth is it going to 'pop'? It's going to go higher.
So many bubbles in this economy it’s ridiculous! I’m sure the collapse will be inevitable at this point.
If you wait long enough, you will be correct 100% of the time.
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*Ashley Denise* The "collapse" won't happen until the government and corporations are ready for it to happen.
@@ayeflippum I agree
Bubble? It's literally inflation, and shortages.
Chinese steel companies are going out of business could be good for cleveland-cliffs
Chinese government will just subsidise them
@@TomNook. China has a pretty bad energy/coal shortage right now, and steel takes a hell of a lot of energy and isn't that expensive. It's unlikely that CCP will subsidize anything beyond what's necessary to secure China's internal supply.
Muito bom ver um BR a frente de uma companhia americana gigante. Parabéns!!
Wut?
Verdade.
The tariffs might have been good for the domestic steel industry, but it was horrible for the construction and housing industries, contributing to skyrocketing housing costs. Working in architecture, my firm lost projects as clients couldn’t afford the double shock of the steel tariffs plus pandemic induced economic issues. It cost American cities new housing projects when there’s a desperate shortage of quality housing and especially _affordable_ housing.
The steel tariffs were only one piece of the pie, but pouring more fuel on the fire doesn’t help anyone.
Only Until domestic steel production meets demand, China steel bad
Well, there seems to be 2 choices. Pay US workers a decent wage to make steel, or pay foreign workers $1 per day to make steel.
China steel is very poor quality
I’m owner of LA City approved steel fabrication shop. For last 2 year the steel price is doubled. It went from $0.28 to $0.75 per lb.
Horrible only in the short term
As new steel plants come online, steel prices will drop.
And then, shortage of affordable housing is mostly due to how US cities are.
No amount of cheap steel or lumber will fix it permanently.
America cannot afford to let lenders block production over so-called emmissions.
Jack those prices up the US can do without Walmart junk China can’t do without food
This is the way! Made in USA
wait i though walmarts sell food too ah damn i knew wrong!! lolololol
China produces far more food than the US does. What they do buy from us, for the most part they can buy easily from other producers.
Chinas the biggest producer of wheat and rice in the world any more food the chinese needs can get from russia or elsewhere
So glad I own Nucor and Steel Dynamics. 8) Were my picks for the pandemic.
I own stld, are you bearish with the downgrades from GS and MS? I'm not really bothered by it, financially it's a hell of a company.
@@beauford731 fundamentally I’ve never been bearish. I mean I haven’t checked the fundamentals too much lately but when I last did, they were rocking it.
@@BlitzOfTheReich STLD has created more revenue streams through acquisitions as of recent too. I love the company, hope for dividend increases
Acquisitions are always a red flag if done too much
Man! Im surprised CNBC said Trump saved the US Steel industry!!! Thanks to his policies!
I'm sure someone will get fired for that. We'll watch them cry on Fox lol.
In return we got these awesome steel prices, which benefit everybody, right?
Not only that, but we still energy independent. Well until leftiest agenda fk it up
Trump also said, Build the Wall across the southern border and make Mexico Pays for it. Mr. Fake news himself ! 🤡🤡🤡
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Time to fire up the furnaces in the Midwest & create jobs
I wonder if this pent up demand will mean a revival of the US steel industry. Most likely it won’t mean a revival of steel jobs though because the industry has been getting more automated over time especially in other western countries that still have robust steel production capabilities
We have several steel mills under construction currently. If the infrastructure bill is passed that’ll probably mean a few more. Since the current trends of reshored manufacturing have been going up I’m willing to bet we’re already in a revival phase of the US steel industry.
The US steel industry could be revived however, unions will ruin it for everyone.
Everything is affected not just steel. The real issue is disruptions to the global supply chain.
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Up 300% higher then pre covid??! Just like wood, like everything else!! What’s coming next?? The food we buy in stores! Stock up now before the food shortage that’s coming…glad my freezer is stocked with natural fed beef, deer I hunt and fish I caught!!
Next think about how to keep it frozen in the event of long blackouts like china is experiencing now. However unlikely the loss of power for extended periods would be devastating to frozen food storage for individuals and the supply chain. A medium sized battery power bank like a bluetti or other gasless generator would be perfect for a 2-4 day outage.
S/O Gary, Indiana!
I get a christmas bonus for scrap at my work ,so I hope it keeps rising to the moon.
It can't keep rising. If it did, anything made from steel would also rise just as much. Cars could easily end up costing $100k+ if steel prices tripled.
@@KyurekiHana Steel has doubled the last year. So not far off
There’s a shortage in the US because they won’t buy from Canada . No shortage here
In Bangladesh only one company produces steel using electric arch furnase
Don’t fall in Promotion propaganda. BSRM,KSRM,GPH all uses EAC.
Make retro style steel woodstoves in America again.
I wish everyone a good mood 😎😎😎😎😎😎😎😎😎😎
Saw a dream,where steel was used in every small shop.
Don't believe in dream thou.
Let's go Brandon!
Man I love this "booming" kenesyian economy under president f brandon.
factories are still closed. Iron minner will be forced to raise prices due to low labor. Pass on to iron mill that just collects fees for refining then pass the high price on consumers. The problem is low labor in the market which causes low productivity of the goods. And everything becomes expensive
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6:12 'the us also imports a ton of steel'
no :')
the graphic following that statement clearly suggests it could be millions of tons
I hate this expression too. Another word that i hate is "decimate" in the place of "devastate". People do not think.
@@fcalin21 Same. Whenever I hear someone use decimate to describe loss, I think it's only a 10% loss instead of complete annihilation. It does sound cool and powerful I guess.
Now I know why my appliances are 40% more expensive.
Chip shortage and inflation are also involved
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What is fire movement please.?
@@tony2961
Fire means Financial Independence Retire Early.
It's been a movement teaching people financial independence and how to retire debt free through solid investment and frugal lifestyle.
@@charlottelatinda633 Thanks for replying I will read more about fire movement.
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There is steel everywhere but needed to be recycled
NICE VIDEO !!! Very engaging from the beginning to the END.Nevertheless business and investment are the best way to make money irrespective of the pandemic 😷
If you’re a TH-camr you’ll be earning £7,500 worth of bitcoin weekly directly into your bitcoin wallet.
I don’t think this is real , how will I earn £7,500 for just being a TH-camr user?🙁
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Was about trading bitcoin but got discouraged by the fluctuations in price
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So increase "infrastructure" and at the same time push steel prices even higher causing all other users to pay higher prices and pass that along to their customers. Great plan there Joe.
Sorry your bridge collapsed, we listened to tb smith and decided to wait til the steel prices dropped.
@@xiaoka All the president has to do is wait it out, that's what they have done for all these past years anyway. All this could have been done a long time ago. But why spend money where it is actually needed when you can spend on others none critical things. Where have the Democrats and Republicans been? It's not like this need just came up. Then again waiting it out with J.B. in charge...things are likely to get worse anyway. So let's just roll the dice
The rich folks consider every economic crisis as the right time to invest so I believe now is the perfect time to start an investment.
Rich people stay rich by spending less and investing more while the poor remain poor by spending much yet with no investment
The 2021 stock market has been wired and proven difficult making it more or less an option to invest.
My investment in stocks and crypto are really doing well especially crypto given the current increase😊
Crypto trading is a very lucrative way of making money now
Some people are really making money through bitcoin trading
Even if the bubble bust the price would still be high, we have inflation guys.
100% agree. Demand will remain high
It's a bubble. There are lots of substitutes. Appliances and cars use more and more plastic. Recycling is everywhere, and global integration is way too profitable and is never going away.
Steel workers in America were on strike for three months earlier this year, there was a successful strike this summer by steel workers in India, and a massive strike in South Africa with 150,000 steel workers occurred earlier this month.
Idk, could be relevant to this story.
This story is missing a very important factor…
China is done subsidizing inefficient steel producers for export.
China already removed their export rebates and is now pushing consolidation which will reduce their overall steel production. They are done absorbing pollution just for the sake of making cheaper steel for the west.
Aye ! The Chinese has discovered the US Bond is not Worth risking the Health and Water Pollution.
Its not a bubble, its called inflation. Steel is at a real price .
Steel and metals will continue to rise. China has a huge production shortfall due to energy issues. It will need months to fire back up to full capacity.
Entire Chinese/CCP economy is about to go Kaput
@ lol,Chins will never bailout Evergreen.
@ as if the US is doing any better with that perpetual printer… CCP will come out of this as US economy implodes
You completely misunderstood the situation. China has been intentionally cutting down steel production since last year, trying to remove inefficient, highly polluted steel mills. That country realized it was not worth polluting own lands (some are even permanent) and air to provide cheap products, exchanging for US bonds.
@@anti-bullingjames China is reducing Australian coal imports and cant find enough to continue running mills and power plans. Everything hit a production slump last year. Aluminum is sky rocketing as well. China can't produce enough to keep up their levels of production. Now with LNG going up all of Asia is about to get hit hard.
Planes trains and automobiles… love that movie
John Candy laughing as the devil when they have a near-hit car accident is classic!