Perhaps the biggest beneficiaries of US President Joe Biden’s plan to spend $ 620 billion on highways, roads and bridges are steel mills.
American steel is too expensive for that – an estimated $ 300 per ton more. So expensive that last week, two ships brought thousands of tons of steel coils from Vietnam and Taiwan to the port of Houston last week, and Big River Steel Corp., just 10 hours from the port, does the same. coil.
“Shipments are registered, chartered and rolled,” Anton Pozner, CEO of supply chain acquisition consulting firm Mercury Resources, said in a telephone interview. “We are seeing an increase in steel supplies from Southeast Asia, and it all depends on demand.”