Earlier in the week, I identified how ArcelorMittal (AM) shareholders enjoyed a ten-bagging 2021 primarily resulting from the lobbying efforts of the Indian-owned firm. A construction respectable dropped me a uncover to exclaim why users of the steel maker’s merchandise are on the opposite end of the spectrum.
He wrote: “A cursory witness at index PO151.1 from Aug 2020 to Jul 2021 shows the worth prolong in Metal Roofing steel used to be 57%; Structural Metal 30%; and Metalwork 38%. This is an instantaneous final result of cloth availability (AM chokes the provide) with potentially competitive imports little by responsibilities.”
He added: “While AM whines about unfair some distance flung places competition, it’s now not competitive resulting from its outdated plant and equipment. The plant is being flee into the bottom and the house owners are most effective attracted to their bottom line profit whereas the lights are accumulated on in RSA.”
Even worse than a greedy capitalist is an ignorant (or zigzag) bureaucrat who writes regulations that style such excesses imaginable.
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