Industry Analysis & Industry Trends
In the past five years, Iron and Steel Smelting industry revenue has been increasing at an average annualized rate of 9.8%. In 2012, revenue is set to total $246.6 billion. As China experienced a dramatic deterioration in economic conditions in 2008, so did the industry. Steel prices and output grew strongly in the first three quarters of the year; however, an emerging steel supply surplus and restrained downstream demand caused by the global financial crisis led to significant drop-offs in the fourth quarter. Operating conditions continued to worsen in 2009, despite the government's investment package to stimulate the economy, but the industry has since begun to recover.
In 2012, ACMR-IBISWorld anticipates that production of pig iron and crude steel will increase.... purchase to read more
Industry Report - Industry Products Chapter
The Iron and Steel Smelting industry produces steel ingots, pig iron, and cast iron pipes. Crude steel is the industry's main product; it is expected to account for 93.4% of industry revenue. Crude steel is further converted into marketable steel products such as tubes, pipes, sheets, plates, wire, rods, bars, coated products, and beams.
Most of the pig iron produced by this industry is smelted in blast furnaces and refined into crude steel; only 2.7% is sold as a final product to be used in castings and other areas. Cast iron pipes, which are mainly used in urban sewerage systems, are estimated to contribute 3.9% of total revenue. The industry's product segmentation is expected to remain steady over the next five years due to the intermediate nature of these products... purchase to read more