Published Tuesday, March 18, 2008 at 14:20
by
Duncan Anderson
in EU in the world (261 views and 1 comments)
A future European Parliament and EU MUST address Resource Security ASAP. We already talk about Energy Security, but "feedstock" security must also be addressed.
China is currently buying up all scrap steel and iron worldwide and India is dismantling ships for the scrap. The price of steel is now going out through the roof. It is more than doubling its price every six months.
Without scrap steel and iron you drastically reduce the "feedstock" for blast furnaces, so the price of steel increase dramatically and then out manufacturing industry can't compete.
The price of other materials is also increasing due to scarcity, in particular non-ferrous metals.
If this basic problem isn't address soon there won't be a European manufacturing industry.
read more