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Written by Stumo
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Friday, 31 August 2007 |
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This from a newsletter called American Metal Market, August 30, 2007.
Chinese steel is often tainted with lead. U.S. government standards are more lax for lead in steel than for lead in toys, apparently.
Chinese steel may be very weak. 20% weaker than industry
standards. At least a type of product called hollow structural
sections. I'd hate to drive over a bridge made with this stuff.
As they say at Wal-Mart, "Always low prices. Always."
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In the news
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Today, the Labor Department reported the economy lost 84,000 payroll jobs in August, after losing 60,000 jobs in July. This was much worse than was expected, as the full weight of banking crisis, rising oil prices and imports from China drive up unemployment.
Unemployment rose to 6.1 percent from 5.7 percent in July. Factoring in discouraged workers, unemployment is closer to 7.7 percent.
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Read more...
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