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*RE: 'Idle thoughts/MQ Steel for China*

 
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Old 06-11-2011, 08:36 PM
 
Join Date: May 2006
Location: Cincinnati, Ohio, U.S.A.
Posts: 1,564
Default *RE: 'Idle thoughts/MQ Steel for China*

Steamboating colleagues:
Hated to start a new 'thread' but Judy's questions on steel from the MQ to China excellent. Again, I don't know all the answers and would never stoop to claim I was any expert.

The job of cutting up the MQ not all that complicated. How the boat's steel is transported to a Chinese bound cargo ships a good question. These people here and there have it down to a science either in bulk, compressed or 'ground' up. No doubt loaded on freighters to transit the Panama Canal. The big HANJIN Line possible as I've seen. In China, like here, in-coming scrap quickly separated ready for the huge electric furnices. China, rich in coal, deficient in metal ores.

I read recently in one of my financial reports an article titled, 'Steel for the mills of China' reflecting an acclaimed book written in 1933 titled 'Oil for the lamps of China,' by novelist Alice Hobart focusing on the arrival of 'Standard Oil' in China and the agent Stephen Crane who "sells out to his company" during the Chinese revolutions of the 1920s. What goes around comes around. Yet, it's all legal, approved in the name of business.

A number on this web well recall the massive sale of scrap metal to emerging Japan in the 1920s and 1930s. This only to be fired back at us as ammunition after the bombing of Pearl Harbor, Dec. 1941. What China 'fires back' at us today results in massive trade deficits. I'm only a small insignificant international investor in my 401K. Well, what do I know?

R. Dale Flick
Summer: Lake Leelanau, MI by the shores of mighty Lake Michigan.
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