RE: cache and jackrabbitsyes, some good posts tonight. thanks for the heads up re the mention on bnn. will watch that later.
godman raised a very good point in his most recent post.
i think steel producers are waking up to the fact that short term supply constraints could be turning into long term problems. before if there were floods in australia it could be viewed as a one off, but now there is increasing talk by scientists of a fundamental change in world weather patterns. in australia they are being warned that they might have to get used to bad weather at this time of the year on a permanent basis.
in the uk they have had heavy snow the last 3 years which was unheard of until recently. now indonesia/ severe winters in china and consistent flooding in australia is getting people worried.
companies are increasingly looking to the USA or Canada for reliable supply(without bad weather) in the years ahead.