The steel nazi’s have been pulling this crap for decades now. I used to have to watch the steel market carefully, and discovered the tactics the US steel nazi’s use...it works like this, a load of beams arrives on a boat from poland. the steel nazi’s cry “dumping”..the load is then put in a warehouse while the claim of dumping is investigated...meanwhile, the US steel nazi’s raise their price on beams an average of 25% while this investigation takes place. At the conclusion of the investigation, the claim of dumping is found to be not valid. The beams are released for sale, and the US steel nazi’s drop their price on beams to compete with the polish beams. Then, a load of steel plate arrives on a boat from belgium........
True story: I interviewed (it was more of a meet & greet, as he had no positions open) with a USX executive in the late 1990’s. We were just chatting in his office, and I asked him about USX’s large amount of unfunded pension liabilities. He just smiled and said, “we’re too big to fail.” I’m serious.