Iron and steel industry report


Iron and steel industry report

The iron and steel industry is a basis for the development of a number of industries in the global economy: the defense industry, transportation and heavy engineering, energy and construction (including aeronautical and shipping construction). Moreover, the iron and steel industry is closely related to the chemical industry and light industry. It shows that the iron and steel industry has the potential to contribute to the competitiveness of national producers and to the growth of the national economy.

Global iron and steel market


Over the last 35 years, the iron and steel industry has seen significant changes. In 1980 716 mln tonnes of steel was produced and the following countries were among the leaders: USSR (21% of global steel production), Japan (16%), USA (14%), Germany (6%), China (5%), Italy (4%), France and Poland (3%), Canada and Brazil (2%). According to the World Steel Association (WSA), in 2014 world steel production amounted to 1665 mln tonnes - a 1% rise in comparison with 2013. The list of leading countries has changed significantly. China ranks first and is far ahead of other countries (60% of global steel production), the share of other countries from the top-10 is 2-8% - Japan (8%), USA and India (6%), South Korea and Russia (5%), Germany (3%), Turkey, Brazil and Taiwan (2%) (see Figure 2). Besides China, other countries that have strengthened their positions in the top-10 are India, South Korea, Brazil and Turkey.


Iron in all its forms (cast iron, steel and rolled metal) is the most used construction material in the modern global economy. It retains the leading place in construction ahead of wood, competing with cement and interacting with it (ferroconcrete), and still competing with new types of constructional materials (polimers, ceramics). For many years, the engineering industry has been using ferrous materials more than any other industry. Global steel consumption is characterized by an upward trend. The average growth rate of consumption in 2014 was 3%. A lower growth rate can be seen in developed countries (2%). Developing countries have a higher level of steel consumption (1,133 mln tonnes).

Iron and steel industry report
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