industry (Griswold, 1998, p.2).For every steelworker whose job is made more secure by protection, nearly 20 workers in steel-using industries will be made less secure (Griswold, 1998, p.2). Propping up steel prices will cheer unions and stockholders of domestic steel, but will hurt far more numerous Americans who buy and make steel products. Most steel companies posted profits in late 1998 and all of 1999. Lower prices will potentially drive some of the less efficient U.S. producers out of business, but the more efficient among them, will survive and thrive, leaving the U.S. industry more competitive overall.FUTURE OUTLOOKThe U.S. steel industry can look forward to a prosperous year 2000 and beyond. Kenneth Hoffman, steel industry analyst with Prudential Securities, .New York, predicted hot-rolled sheet prices would be in the range of $365 per ton to $400 per ton. Hoffman also predicted prices for cold-rolled sheet would be in the range of $425 per ton to $465 per ton (up, from current prices of around $410 per ton) and galvanized sheet up to $525 per ton to $600 per ton from current prices of around $420 per ton. "I think U.S. prices will go nuts next year," Hoffman said. "Asia right now is a boom or bust economy. It is the U.S. of 100 years ago, and it will be significantly stronger next year. That strength will help curb the high levels of imports that came from Asia to the U.S. in the second half of 1998 and early 1999" (Robertson, 1999). This will cause less dumping into the U.S. market, thereby allowing domestic steelmakers to raise their prices. Furthermore, supply will decrease as demand rises. Thus increasing total revenue for most steel companies.CONCLUSIONDumping is a worldwide problem, the breakdown of the Russian economy and the Asian financial crisis were problems during the 1990s. Finding ways to deal with dumping is one of the major issues facing U.S. steel makers in the new millenium. Should the U.S. Governme...
