Saturday, February 6, 2010
Steel
Although the steel industry declined in 2009 compared with 2008(World Steel Association); there are some graphical variations. The industry grew in China, India, and the Middle Age and had a large decrease in the United States and other countries. In the United States, the biggest steel-producing states include Indiana, Ohio, Arkansas, Alabama, North Carolina, South Carolina and Texas (United States Steel); but not at the levels they use to have.
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From the article I think you meant to say the Middle East. But this is quite an interesting piece. Steel continues to be a valuable resource for nations throughout the world. Many industries are highly dependent on the steel industry, such as automobile and aerospace. It is not surprising that China has become a dominant player in the steel industry, especially with their booming economy.
ReplyDeleteI think the variations in steel production is very interesting. The data provided in this article show how by how much the steel industries around the world have varied. Output in China increased 13.5% while production in the U.S. fell 36.4% in 2009. This article made me wonder why China's production continued to grow while the U.S. was contracting. The increase may be due to the blooming economy that China has been experiencing recently. It will be interesting to see what happens in the steel industry in the next few years. Will China continue to grow at its current rate? Will the United States increase its growth in the future?
ReplyDeleteYes, sorry for the spelling mistake; it is Middle East rather than Middle Age
ReplyDeleteBut Ted I agree with you, it is quite interesting to see what has to come with the steel industry.