Fair Value For FMG, page-43

I think the main aspects which aredriving the steel production are unfortunately missed in your message.

I think you should have a look at thissite

https://en.wikipedia.org/wiki/List_of_countries_by_steel_production

Here are just a few comments

- - USA is already quite developedcontrary comparing with the state of China 20 years ago

- - USA population is over 4 timesless than population of China having a very poor infrastructure ~20 years ago

- - China has been developing veryfast for the past 20 years what actually can be seen from the referred site,with a significant steel production increase

- - at the moment India is anotherdeveloping country with over 4 times population size of USA and alreadyproducing more steel than USA

USA does not play any significant role in the steel production so your comparisons are irrelevant for making a conclusion on the world steel production and especially on the world current demand on steel.