Transportation costs are a driving force behind the globalization of the steel industry.

Question

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Transportation costs play a significant role in determining the competitiveness of the steel industry. The ability to transport raw materials and finished products efficiently and cost-effectively is essential for the success of steel manufacturers in a global market. As a result, the steel industry has become increasingly globalized, with firms seeking out locations that offer the most favorable transportation arrangements.

Transportation Costs Are a Driving Force Behind the Globalization of the Steel