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The Global Iron and Steel Industry: From a Bilateral Oligopoly to a Thwarted Monopsony

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  • Sylvain Sourisseau

Abstract

China's growing urbanisation and the speed of development of its manufacturing industry has led to a shock in steel demand. This article analyses the evolution of the market structure and the related market power shift. From a stable situation in which a few steelmakers negotiated with a few mining firms to set an annual price, the market has evolved to a new price†fixing regime as a result of supply–demand confrontation. A new composition of stakeholders in the iron and steel sectors has emerged, transitioning from an oligopoly to a thwarted monopsony.

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  • Sylvain Sourisseau, 2018. "The Global Iron and Steel Industry: From a Bilateral Oligopoly to a Thwarted Monopsony," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 51(2), pages 232-243, June.
    • Handle: RePEc:bla:ausecr:v:51:y:2018:i:2:p:232-243
    DOI: 10.1111/1467-8462.12264
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    References listed on IDEAS

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    1. Sylvain Sourisseau & Jean De Beir & Thai Ha Huy, 2019. "The effect of recycling over a mining oligopoly: competition for market shares, collusion for market power within a Cournot-Stackelberg model," Documents de recherche 19-01, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    2. Wan, Junmin & Qiu, Qiqi, 2023. "Industrial investments and housing prices in China," International Review of Economics & Finance, Elsevier, vol. 84(C), pages 832-852.
    3. Konstantinos Koasidis & Alexandros Nikas & Hera Neofytou & Anastasios Karamaneas & Ajay Gambhir & Jakob Wachsmuth & Haris Doukas, 2020. "The UK and German Low-Carbon Industry Transitions from a Sectoral Innovation and System Failures Perspective," Energies, MDPI, vol. 13(19), pages 1-34, September.

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