The Development of a Steel Industry-Factors Affecting the Econonmics of Steel

Abstract

STEEL as a commodity, is now widely accepted as a measure of a country's wealth and of the relative standard of living enjoyed by its people.Vast quantities of steel are required to build up a country's transport services, to construct the factories which will manufacture the plant and equipment to fabricate the capital investment goods essential to the national economy , in turn these capital investment schemes will produce the consumer goods which affect directly the life of the people. The customary adjuncts to prosperity such as motor cars, refrigerators and washing machines all involve the use of large quan-tities of steel which are additional to the more austere basic national requirement.