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The '''Steel industry''' is the worldwide heavy industry that produces [[steel]]. Most of the steel is used in construction of factories and offices, and in automobiles and machinery. The industry is highly volatile
The '''Steel industry''' is the worldwide heavy industry that produces [[steel]]. Most of the steel is used in construction of factories and offices, and in automobiles and machinery. The industry is highly volatile
The U.S. steel industry is a $75+ billion business with 1200 companies, counting additional downstream. It comprises about 5% of U.S> manufacturing. The steel industry (including iron production) ues 2-3% of all US energy consumption and has invested more than $7 billion in environmental controls. There are 20 large integrated mills producing steel in basic oxygen furnaces. The industry employs 154,000 people nationwide, with pay scalres about 50% higher than average. Most grades of steel in use today – particularly high-strength steels that are lighter and more versatile – were not available ten years ago. Steel is the most recyclable and recycled material in North America, with an overall recycling rate of 68%.
The U.S. steel industry is a $75+ billion business with 1200 companies, comprising about 5% of U.S. manufacturing. The steel industry (including iron production) uses 2-3% of all US energy consumption and has invested more than $7 billion in environmental controls. There are 20 large integrated mills producing steel in basic oxygen furnaces. The industry employs 154,000 people nationwide, with pay scales about 50% higher than average. Most grades of steel in use today – particularly high-strength steels that are lighter and more versatile – were not available ten years ago. Steel is the most recyclable and recycled material in North America, with an overall recycling rate of 68%.
China has 71 major steel producers; they were growing very rapidly for seven years with very high profits until the [[Financial Crisis of 2008]] hit; the industry in 2008 has an annual capacity of 400 million tons, far more than demand.
China has 71 major steel producers; they were growing very rapidly for seven years with very high profits until the [[Financial Crisis of 2008]] hit; the industry in 2008 has an annual capacity of 400 million tons, far more than demand.