Among the biggest losers from the news were automakers, which account for a little more than a quarter of steel demand in the U.S., according to the American Iron and Steel Institute (AISI). (usfunds.com)
Rapid growth in global steel demand has also boosted contract prices for other bulk commodities; coking coal contract prices increased, on average, by 25 — 35 per cent in US dollar terms in recent negotiations, while iron ore contract prices have risen by close to 20 per cent. (rba.gov.au)
For instance, if the transportation sector one day shifts to a smaller fleet of self - driving vehicles and if builders are able to reduce steel demand by using alternate materials — like, say, wood - framed buildings — it could drastically reduce the overall metal footprint. (sciencedaily.com)