Asian Steel Squeeze

I read this article in the text muet (Longman), this article tell us, why there is lack of steel in the region and the effects of it on the powerful industrialised nations of Asia. Asia is now facing a shortage of steel because the merger of large steel manufacturers has reduced the number of steel suppliers. The incredible success of Japanese automakers is another cause. The production of cars has overtaken the supply of steel. China’s amazing growth spurt and demand for all types of steel also caught steel suppliers by surprise. Consequently, the price of steel is shooting up, raising the costs for car makers, construction companies and other industries dependent on steel. Major automakers is Japan are forced to suspend or reduce production, or look for different kinds of steel to ensure supply of cars.