Once, steel was everything. In a nation that was constantly growing, steel magnates had power. They were responsible for building up and tearing down thousands of buildings, reinforcing hundreds more, and employing hundreds of thousands of Americans. Things sort of petered out after that boom, resulting in quieter daily operation in most steel factories.
Ergo, it begs the question, "Is America on the verge of another economic boom in the steel industry?" It is teetering on a brink, with steel advocates pushing for U.S. economic growth through the use and production of more steel, to their counterparts saying that steel has had its day. Judge for yourself, after you read the following.
The Current POTUS Threatens Higher Tariffs on Steel
There are reports that steel is experiencing a nice little boom again. There are also reports that the current President of the United States (POTUS) is threatening to tax steel companies. If the President were to tax steel companies, the little boom those companies are experiencing would change to a "break even" or a bust situation. If the "boom reports" are correct, then yes, steel is experiencing a new high recently, but it may not be for long.
Steel Companies Are Acquiring Bigger, Better Contracts
The new boom in steel is due to the fact that steel companies are getting bigger and better contracts. Some are getting government contracts, while others are getting contracts for oil pipelines or drainage lines in places where people want to dry up swamps and build new homes. Whatever the project, it looks good for the steel industry.
Steel Advocates Are Working Hard to Promote Steel
Sometimes the public forgets what a great product they have in steel. Steel lasts a long time, and it can be used for almost anything. Steel advocates are working harder than ever to promote this metal in every way that they can, just as any company or any lobbyist would promote a special interest. Putting steel back out in front of the public eye, renewing interest, and keeping the interest going has been helping the industry a lot.
When steel profits, these companies hire more people to work. More working people equals more money being spent on other goods and services. More money spent drives up the economy. Many industries can drive up the U.S.'s economic growth, but not so many can literally build America in the process.
For more information on the US economic growth from steel advocates, contact your local professionals.