The present state and prospects of the world iron and steel industry

The growth pattern of global steel industry has followed a varied pattern during the last two decades whilst maintaining a steady growth and spectrum in preceding decades. World steel production doubled from 360 million tons in 1960 to 710 million tons in 1974-a positive progressive growth particularly in the advanced/developed steel producing countries. The picture has changed visibly since 1974 after which the growth of the steel industry in the developing countries has risen gradually whilst the developed countries, particularly of the western world, have depicted a depressing steel industry with production dropping off the peak of 1979 figures.