Everyday, all around the world, we all experience steel. Our vehicles, our roofs, and the buildings we work in—they all impact us. Sometimes we can see it. Sometimes we walk on it and don’t even know it.
Steel is vital to the economic stability of every developing country in the world. The steel industry supplies more that $50 billion worth of economic activity in the United States alone.
Countries like China and Russia create enormous demands for steel—straining full capacity steel suppliers.
History of Steel
Many people think steel is a product of the modern age. Not so. Some experts date steel manufacturing to 1,400 BC in Africa. The Chinese used steel, as far back as 200 BC, to successfully manufacture weapons. However, these were primitive steel making ages.
It wasn’t until the 1600s that steel making became a large scale operation. Again, steel was used primarily to forge weapons. But during this time, inventors began to experiment with steel for different uses.
After hundreds of years of steel processing, different techniques introduced allowed steel to be manufactured and used on a large scale.
The Steel Marketplace
Steel, unlike most commodities, is not traded on a futures exchange. How is steel’s price regulated? By market fluctuations, brought on by major supply and demand differences around the world.
As world economies expand and contract, the price of steel expands and contracts across continents. Speculation runs wild as to whether steel will be brought into a financial exchange
Steel in a Green World
There’s no doubt that steel plays a vital role in the world economy. But, steel’s creation is running straight into the green movement. Governments are increasingly enacting laws which restrict emissions generated by steel production.
Steel recycling programs help alleviate environmental stress by reducing the emissions produced from steel smelting.
As technology advances, manufacturers are finding better and cleaners processes for manufacturing steel.
Steel has become the commodity which is building the world. From ancient times until now, people have understood steel’s significance for a modern, functioning world.
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Article Source: ArticlesBase.com – Steel History
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