Sign in | Join us  
      
 Popular Searches:diamond,cbn,tuck point blade,cup wheel,saw blade, brown fused alumina
Home -- Information


  Featured Companies
 • Yantai Cct Metal…
 • Dymend Tools Co.,…
 • Henan Boreas New…
 • Yancheng Xiehe Machinery…
 • EKF Industrial Supplies…
 • Ruishi New Material…
 • MORESUPERHARD
 • Henan Banner New…
 • Zhengzhou best synthetic…
 • Zhengzhou Haixu…

 Print  Add to Favorite
Custom your font size:     

Steel 'dumping' blamed for Iron Range layoffs


Post Date: 02 Apr 2015    Viewed: 392

Politicians and mining company officials are blaming unfair foreign competition for more than a thousand recent layoffs in the state's iron ore industry.

U.S. Steel announced Tuesday that it would idle part of its taconite plant in Mountain Iron, Minn., starting on June 1. Earlier last month U.S. Steel announced plans to idle a plant in Keewatin, which will result in more than 400 layoffs.Magnetation also recently announced that it was closing an Iron Range plant and laying off more than 40 people.

• Monday: New MN taconite mine finally arrives, but will market be there?

The closing of plants and mills comes from a glut of steel supplies and the steady decline of prices over the last few months.

Following news of the most recent plant closing, Rep. Jason Metsa, DFL-Virginia, blamed the low prices on "foreign countries for dumping state-sibsidized steel on American shores." U.S. Steel officials have also pointed to illegal trade practices by Chinese companies.

Dumping is a frowned upon international trade practice, said Tony Barrett, a professor of economics at the College of St. Scholastica. It's when a company sells steel abroad for cheaper than the cost to produce it because they don't need to make the same level of profits as American steel companies.

"If you have a state-owned steel company in China, their priorities are more staying in operation, keeping employment high, keeping their workers happy," Barrett said. "They don't need to make the profits that a U.S. Steel company would have to — we can't do it in this country because we have stockholders that wouldn't tolerate it."

Barrett said while it's almost certain that foreign companies are dumping steel in the U.S. market, the process for challenging the practice is long and complex.

"A company like U.S. Steel would have to go to court at the Department of Commerce and the International Trade Commission and claim they've been materially harmed by illegally dumped steel," Barrett said."It's time consuming to do."

The Minnesota Congressional delegation met with White House officials last week to discuss ways to shorten the amount of time it takes to determine whether foreign companies are dumping products in the U.S. market.

But Barrett said other sectors of manufacturing like the auto industry benefit from the availability of cheap steel, which could complicate the passage of any legislation streamlining the process. 


Superhard Material of China

Superhard Material of China

Abrasives and Grinding Products of China

Abrasives and Grinding Products of China

Coated Abrasives of China

Coated Abrasives of China

Chia International Abrasives & Grinding Exposition

China International Abrasives & Grinding Exposition

Home | About Us | Members | Contact | Advertising Quotation
Supported by Yuanfa Information Technology co.,Ltd
Copyright ©Abrasivesunion 2006. All rights reserved
Page rendered in 0.0240 seconds
增值电信业务经营许可证:豫B2-20202116  ICP备案:豫B2-20100036-2