LOL, europes second largest steel maker reports an expectation of a -15% growth this year. US Steel, Nucor, and many others are well capitalized too. Cash wise, and profit wise the US companies are in much better position than anyone else. We can sell ours for profits, others cannot due to our weakened dollar. What the US market doesn't have is growth. The companies will survive (I think). We may have some other consolidation occur with the mini mills.
I also know that the world position is worse than we are told. I have it on good authority that the production figures we are hearing are being fluffed up to incorrect levels by direct involvement of world governments that are attempting to stop a mass panic. Nucor is blasting at under 30%, many others are down to that level or lower. Russian steel mills are taking furnaces off line, etc. Crap is bad.
You don't understand where that ties to everthing else though. Steel is a major consumer of massive amounts of mining materisls and other raw products. There are massive amounts of mines pulling out specialty metals that are used in mixing of steel. All those are grinding to a halt.
Mining only has 2 major products. Coal and metals.
