A market wide inquiry has found Liberty’s former iron industry can’t compete on a level playing field with dumped exports, especially from new automatic iron farms.
A report published today has found that profit making, unsubsidized iron farms have reduced the price of iron by 88% from $85 to $10 per block in just two months resulting in low export prices.
“If this automated iron production is unsustainable, then players are benefiting from low prices at the expense of the iron producer.” it said. Whether these iron farms can sustain production is an open question.
The ongoing, significant supply increase across Liberty has depressed iron prices, resulting in prolonged quality of life improvements for players generally.
Liberty’s former iron producer, RadioactiveLee located east of spawn hasn’t yet noticed the drop in prices because the iron he produces is not provided to other players. After a brief encounter with competition he closed up shop and threw large quantities of iron into lava. At the time of writing, RadioactiveLee’s iron production remains out of the market. Iron prices remained high until the market demand for iron was filled by new farms.
The report concludes “The Liberty industry of old cannot compete on a level playing field with dumped and unsubsidized exports. So, they’ll have to innovate! Industries and players are better off when cheap goods from iron farms are dumped into the Liberty market.”
This writer anticipates further innovation will see this unregulated iron dumping continue. Rejoice!