A key driver of the World Economy

Key facts:

  • The industry directly employs more than two million people worldwide, with a further two million contractors and four million people in supporting industries. 
  • Considering steel’s position as the key product supplier to industries such as automotive, construction, transport, power and machine goods, and using a multiplier of 25:1, the steel industry is at the source of employment for more than 50 million people.
     
  • World crude steel production has increased from 851 megatonnes (Mt) in 2001 to 1,607 Mt for the year 2013. (It was 28.3 Mt in 1900). 
  • World average steel use per capita has steadily increased from 150 kg in 2001 to 217 kg in 2012. 
  • India, Brazil, South Korea and Turkey have all entered the top ten steel producers list in the past 40 years.Image Source: World Steel Association
  • Elle T. // SMC Editor
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