In many export industries, particularly steel, margins are already wafer-thin.

ECONOMIST: China's export prospects

And, to return to those Japanese H beams, this is particularly true of steel.

ECONOMIST: Buttonwood

That has hit exporters like British Steel particularly hard: most of its plants are in Britain, but much of its sales are in overseas markets.

ECONOMIST: European steel

But he also said he believed Iran is facing difficulty purchasing raw materials, particularly carbon fiber and maraging steel, it needs to produce this equipment.

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Dow's materials-engineering center is busy brainstorming ways that plastic can be used to replace wood and steel in durable goods, particularly home appliances and auto parts.

FORBES: Chemical transformation

Unlike the power sector, the steel industry is fragmented and tougher to control, particularly with local governments relying on smaller, and often dirtier, mills.

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Steel and copper traders told Barclays analysts that their inventories were not particularly high.

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