The restructuring of the U.S. steel industry and the emergence of semifinished steel imports

The objective of this thesis is to examine the emergence of the semi-finished steel market, more specifically the slab market, and its effect in the restructuring of the U.S. integrated steel capacity. Also, this thesis assesses the reasons for the increasing international trade of slab. This task is accomplished by examining the role of new technologies in steel making. Thereafter, the thesis surveys the international and domestic situations in steel production and in raw materials for steel making. The thesis examines the effects of unprofitability and capacity shut down of U.S. integrated producers. The competitiveness of the U.S. integrated industry is then examined. Finally, the thesis reviews steel protectionism and its impact on imports of semi-finished steel.;This thesis shows that U.S. trade policies have to be reviewed as steel making is becoming more raw material-oriented than market-oriented. Also, it shows that there is a strong tendency for steel production to become less vertically integrated as international trade of semi-finished steel is increasing and technology is developing. As a result, U.S. steel protectionism leads to economic inefficiencies and retards an efficient restructuring of the U.S. steel industry.