The Latest in The Steel Market
Steel is both one of the most widely used metals in the world and one of its oldest. Steel was first discovered in 13 century. However, mass production was only possible after Henry Bessemer invented it in 1800. The steel industry has seen a boom with an average annual production of more than 1.3 billion tonnes. Steel is used most often in ships, automobiles and tools. Current steel prices are measured in US dollars per metric ton. Although prices are rising again, the industry suffered a significant blow when the economy crashed. The recession hit steel, which was one of the most robust industries at the time. Unfortunately, it suffered one of its largest losses. Despite low prices and a grim outlook for the future, the industry has seen remarkable recovery. As new methods of using steel are discovered each year, the price is likely to rise. A potential merger between two Japanese companies is the latest steel news. Sumitomo Metal Industries and Nippon Steel Corporation are looking t...
