Beset by imports and low investment, an industry struggles to shape up
Throughout the developed world, trouble is brewing for one of modern society's most basic industries: steel. Producers everywhere are struggling with softening demand and excess capacity. Western European producers are trying to ensure their survival by dismantling older, inefficient plants and concentrating their slimmed-down industry not on raw steel but on sophisticated finished and specialty steels that have strong markets at home and abroad. But some of the toughest problems lie ahead for the American steel industry; 26% of its capacity is still outdated despite a series of closings over...
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