1.<Tab/>Rivalry - Excess production worldwide is acting to strengthen rivalry. Jockeying for position among steel producers is active, resulting in strong rivalry. Rivalry is made stronger by the fact that buyers of steel have low switching costs.
Competition from substitutes - Rival steel makers were building new mini-mills to make flat-rolled sheet steel.
Threat of entry - Current market conditions in the steel industry are likely to be viewed as attractive by new companies contemplating getting into the steel business. Growing technological capability of mini-mill producer…
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