Could we make as much steel as we used to?

Question

I realize that America is no longer the industrial leader of making steel and other industries, but is that because our supplies of ore are dwindling, or simply because the costs of industry are cheaper elsewhere? Suppose in the very unlikely scenario that we got involved with a major war that required our full industrial strength, like WW2 was, would we be able to heed the call, or would we be indebted to China and others like Europe was to us?

Answer 1

We subsidize our steel industry so that there is enough to supply our military and government infrastructure. Thats for, as you say, in case a war happens.

Other than that, China, EU and Japan are just better at producing cheaper steel than we are.

Answer 2

You can subsidize the steel producers to produce as much steel up to their effective capacity to produce, but you can also purchase steel from countries other than China. But remember you have to pay for the war ultimately by taking pains through higher prices of essential goods as resources get transferred to steel making for the War use. You will also have to pay for the steel and iron ore imports.