Author: D. McLaughlin
Abstract
The current condition of the US steel industry owes its roots to the confluence of many
factors; a surge in imports, the fragmentation of the domestic industry, misguided capital
investments, an economic slowdown, and other factors. Some elements contributing to
the industry’s downward spiral are within the control of company management, some are
not. One thing is certain; the US industry has been thrust into a more global environment
(trade cases notwithstanding), and new forces are at work in determining the
competitiveness of US companies. One of the most important – and least controllable by
industry managers – is the movement of exchange rates, and their consequent impact on
the competitiveness of US producers in a global context.
