History Of The Steel Industry

June 29, 2010Steel Industryby EconomyWatch


History Of The Steel Industry dates back to the ancient times in Armenia which is approximately around three thousand and five hundred Before Christ. Steel is nothing but the alloy of iron and carbon. But the History Of The Steel Industry in the modern times was initiated during the medium half of nineteenth century (during 1850s to be precise). The initiator of it was a person named Mr. Henry Bessemer of England. At the same time, another person named Mr. William Kelly, a resident of United States, has also started the production of steel and was completely an independent approach from Mr. Bessemer. The process in which the first ever production of steel was carried out came to be known as Bessemer Process. This helped the steel industries to produce steel in large quantities and also at comparatively low costs.

History Of The Steel Industry was enriched and modernized through the introduction of Open-Hearth process of steel production which made the industries to produce steel out of domestic iron ores. This process was first adopted by the steel industries situated in United States Of America in the year 1888. This time saw rapid innovations in the processes of steel production which got its impetus from the increased want for steel from various industries namely, railway industry, automobile industry, industry involved in construction of bridges, etc. During this time period, the enhanced demand as well as supply of steel pushed the ranking of USA to the first position, in terms of the steel production.

The utilization of the Open-Hearth system of steel production continued approximately from the year 1910 to the year 1960. After this, a new process called Basic Oxygen Process came into existence which produces steel in a more quick and efficient manner.

If someone goes through the History Of The Steel Industry then he or she would find out that from the early 1960s a new process was incepted by the steel industry for the production of steel known as the Process of Electric Arc Furnace. This process helps these industries in production of stainless steels and also in recycling of scrap steel items.

In the History Of The Steel Industry it can be observed that the with the passage of time, the quantity of production by USA has decreased with relation to total world production of steel. After the 1980s, China came strongly enough and became the largest producer of steel. India is also showing good performance in this sector in the recent times.

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