Key Points:
- Steel fabrication involves two processes: making pig iron from iron ore and coal and creating hot and cold rolled steels.
- The US is the world leader in cold rolled steel, but has to import most of its pig iron due to environmental regulations and foreign subsidies.
- Indiana is a major exception, with half of US pig iron and 25% of all US steel coming from the state.
- The US is able to produce economical hot rolled steel from recycled steel.
- Due to sanctions and war, Ukraine is no longer a reliable source of pig iron, leaving Brazil as the US’s primary source.
- Indiana is well-positioned to weather US steel’s struggles due to its existing foundries and infrastructure.
link to original vlog published December 20, 2022: https://www.youtube.com/watch?v=i5B2WTFxw3w
