2007 Chinese metals market disruption
Appears in 1 lecture.
Appearances across the corpus
Used to explain why the actual Alvin contract cost diverged sharply from Tom's 2004 estimate. ## Figures referenced
In 2007, when they were about to let the contract, China just sort of blew open the metals market. The price of titanium doubled and tripled, everything. Before the big financial crisis of 2008, China started going out on the world market and buying up all the metal in the world — it was incredible. Prices of everything, whether it was aluminum or steel or anything, were doubling and tripling.