Que the bottom falling out of the steel market for generations to come.
It’s an iron asteroid, not a steel one. How would it hurt the steel industry if its main raw material got cheaper? But wait, is launching big rockets to get iron from space really cheaper than mining iron on earth? Nope! As Isaac Arthur points out, we will mine asteroids for construction projects off-earth, not to send the mined materials down to earth (unless we’re talking about rare materials, which iron and nickel are NOT).
As I am of meager means let it be known that
I have no functional understanding of the markets:
local, national, global or otherwise whatsoever so
despite this being a totally unprecedented situation
it still utterly defies my comprehension.
The nearest to anything I can think of is say:
Company XYZ owns mineral rights to land
(that it is more than strong enough to defend)
on which is discovered an enormous oil and gas deposit.
Whatever that does to the global markets when the
resource is substantially greater than all other such
proven resources combined, I have no clue but
my guess is company XYZ’s stock goes WAY up.
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