With the recent global economic meltdown, a lot of factories all over the world have gone idle and there is no sign of the economy getting better anytime soon. In fact it has even become worse with unemployment on the rise and many factories having to downsize to concentrate on productivity. China is suffering the most with their inability to produce enough steel to keep up with demand from other countries. This has forced the Chinese government to purchase massive amounts of foreign steel in order to keep up with the increasing demand from countries like the US and Europe.
China likes to have an upper hand in almost anything it does and they certainly do not want to be left out in the cold as far as their place in the global economy is concerned. So it was a foregone conclusion that China wanted to own a large part of the global steel production market and they have finally got their way with the purchase of Mt. Sinbad. However, it will be some time before China can generate the amount of surplus steel production that they need and until then they will have to rely on foreign companies that can supply them with steel. For now however, it looks as though China will have to continue to buy steel in order to meet their production quota for this year and perhaps the next.
The US and European countries seem to have taken a relaxed attitude towards the purchase of scrap steel coming from China. In fact the European Union has been one of the biggest supporters of scrapping the custom carriage licensing fee that is charged by most steel producers coming into the EU. China is working hard to win over the US and EU markets and their willingness to buy rolling mills is quite encouraging. The EU may have to put in a bit of effort in negotiating some sort of deal that will allow them to continue to trade with China but in the end it will probably be worth it. China will always be looking to make its presence felt and if they can buy rolling mills and build ships and aircraft with that scrap steel then they will be just fine. Some say that the steel market is already too big and that it may be impossible to regulate but if China is allowed to buy roll mills and other steel manufacturing equipment then surely the question of who will regulate it is not so important sun group.
Steel producers must find ways of storing their waste and they need to think about ways of recycling too. If steel can be made to form objects then it can be recycled and used again, which is a very healthy environment for all. Some claim that it takes five to ten years before the steel starts to degrade in this way but if the waste can be recycled then life can go on without the threat of contaminated landfills and thus the future of the earth. It is thought as well that by the time the first carbon dioxide emissions are released the world’s population could be as low as zero and that would be an enormous tragedy. If we are to reduce our carbon footprint then this means that we have to look at ways of creating energy from other sources besides coal and oil.
There is also the possibility of using the new bio steel to create iron for power and electricity in the future. The creation of steel is still possible but at present it is not possible to extract enough iron from the earth to meet our needs. What is needed now is something which can be made easily from steel and that is how the steel can be transformed into a metal which can be used to make the most of everything. If you think about it, you will realize that with the help of this metal you will be able to build structures that will last you for decades and you will be able to use them for another thousand years. This is the promise that lies in the hands of the graduates of tomorrow and the promises which the present generation has to make.
When the steel is transformed into a useful metal then it can be used to make furnaces, car batteries, generators and so on. In the near future a massive amount of scrap can be produced because these scrap manufacturers will be responsible for the removal of furnaces, cars and other large vehicles from the country’s roads. Their services will not be cheap but it will be a worthy investment.