Good News, page-3

Pyne had plenty to say about Arrium management and their debt levels which is true but made no mention of his and the Federal Government lack of action on Chinese dumping of steel, took for Arrium to go into administration before they realized the seriousness and subterfuge of the Chinese steel makers.

We shareholders get wiped so will the Libs, Chinese Government are laughing at us. The action we take should include bombarding Pyne with why he allowed the Chinese to dump steel at below cost to gain market share which is against World Trade Agreements ?

Shorten and Labor should be all over this, enough is enough.

From WSJ:

"Mills’ refusal to cut back despite slower demand growth is what irks steelmakers elsewhere in the world.

The state-backed China Iron and Steel Association has in the past described efforts to roll back Chinese exports as “protectionist.” But it has also said that it recognizes the problem and has encouraged Chinese steelmakers to hold down exports.

Chief executives of leading American steel producers said Thursday they would testify later this month at a Congressional Steel Caucus hearing, a move that trade lawyers said is a prelude to launching at least one anti-dumping complaint with the International Trade Commission. “Dumping,” or selling abroad below the cost of production to gain market share, is illegal under World Trade Organization law and is punishable with tariffs."