Steel prices are surging. Prices in the United States are at the highest point in about three years, according to SteelBenchmarker. China is a major factor driving this "summer of steel." The Chinese government has finally curbed some steel production, acknowledging that a glut of steel on world markets was causing prices to fall so low that even Chinese companies couldn't turn a profit. At the same time, China is hungry for steel as it upgrades its infrastructure. Lower Chinese supply and higher Chinese demand has sent steel -- and other metal -- prices up around the world.
"China, Not President Trump, Is Suddenly Helping American Steel" is from the August 07, 2017 Wonkblog section of The Washington Post. It was written by Heather Long and narrated by Sam Scholl.