A Look at Trends Within the Steel Industry The steel industry has faced significant challenges within the last decade. In 2010, the global economic crisis led to a recession in the world steel industry. Demand for the metal faced a drastic decrease, leading to a decline in its trade, prices, and production, as well as employment in the industry. The global steel industry was able to recover remarkably quickly, however. Heat treatment is now a significant field of production. It is used to soften metal so it can be formed in a variety of ways, such as machining and cold forging. Demand for steel continues to flourish, with much of this growth being driven by Asia – particularly India and China. Steelmakers still deal with difficulties, though, such as an excess capacity for production. The market for steel is guided by a range of manufacturers who produce durable goods, such as machinery, motor vehicles, construction steel, and containers. When they have more demand, so too do steelmakers. The opposite, of course, is also true. Currently, the demand for these products seems to be on the rise. This translates to decreasing excess capacity and increasing steel prices.
Posted on: Mon, 28 Apr 2014 20:45:00 +0000
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