• First, a wave of investment followed, as the majors committed more than $10 billion to build new mills in Florida, Arkansas, Texas, Arizona, and elsewhere.
• Second, the new mills, once opened, began hiring hundreds more steelworkers.
• Third, the new investments are facilitating a reduction in the emission of harmful greenhouse gases from steel plants. Steel is estimated to be responsible for about 7% of the world’s emissions of greenhouse gases. The United States already produces the world’s cleanest steel among the major steel-producing nations.
• Fourth, the positive industry outlook enabled a wave of consolidation in the industry. Consolidation leads to greater efficiency and more investment in the latest steelmaking techniques, which is ultimately what makes possible higher quality steel at lower prices.

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