The costs of producing steel have declines substantially from building a conventional hot-rolled steel mill down to the new minimill technology that

The costs of producing steel have declines substantially from building a conventional hot-rolled steel mill down to the new minimill technology that requires only scrap metal, an electric furnace, and 300 workers rather than iron ore materials, enormous blast furnaces, rolling mills, reheating furnaces, and thousands of workers. What effect on the potential industry profitability would Porter’s Five Forces framework suggest this new technology had? Why?

 
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"