Last California Steel Mill Perseveres

RANCHO CUCAMONGA, CA - OCTOBER 4: A worker cuts through a glowing 2,000 degrees Fahrenheit "billet" at the TAMCO steel mini mill on October 4, 2002 in Rancho Cucamonga, California. TAMCO, California's only steel mill, has managed to persevere through skyrocketed electrical rates as it uses electric arc furnace technology to turn scrap steel into concrete reinforcing bars (rebar) for the domestic market. Last March, the Bush administration imposed tariffs of 8 percent to 30 percent on certain kinds of steel imports, a move that now has the European Union threatening to retaliate by seeking $350 million in steel trade sanctions against the United States. Nationally, 34 steel companies have gone bankrupt and 17 have shut down since the 1997 Asian financial crisis, putting 52,000 steelworkers out of work. (Photo by David McNew/Getty Images)