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The US iron and steel industry has paralleled the industry in other countries in technological developments. In the 1800s, the US switched from charcoal to coal in ore smelting, adopted the Bessemer process, and saw the rise of very large integrated steel mills. In the 20th century, the US industry successively adopted the open hearth furnace ...
Steel is an alloy composed of between 0.2 and 2.0 percent carbon, with the balance being iron. From prehistory through the creation of the blast furnace, iron was produced from iron ore as wrought iron, 99.82–100 percent Fe, and the process of making steel involved adding carbon to iron, usually in a serendipitous manner, in the forge, or via the cementation process.
The steel crisis was a recession in the global steel market during the 1973–75 recession and early 1980s recession following the post–World War II economic expansion and the 1973 oil crisis, further compounded by the 1979 oil crisis, and lasted well into the 1980s. Steel prices dropped significantly as the market became saturated with steel ...
The 1952 steel strike was a strike by the United Steelworkers of America (USWA) against U.S. Steel (USS) and nine other steelmakers. The strike was scheduled to begin on April 9, 1952, but US President Harry Truman nationalized the American steel industry hours before the workers walked out. The steel companies sued to regain control of their ...
Bessemer process. The Bessemer process was the first inexpensive industrial process for the mass production of steel from molten pig iron before the development of the open hearth furnace. The key principle is removal of impurities from the iron by oxidation with air being blown through the molten iron. The oxidation also raises the temperature ...
History of the steel industry (1970–present) The global steel industry has been going through major changes since 1970. China has emerged as a major producer and consumer, as has India to a lesser extent. Consolidation has been rapid in Europe. According to the 2019 International Energy Agency (IEA) report, the iron and steel industry ...
The early technological and industrial development in the United States was facilitated by a unique confluence of geographical, social, and economic factors. The relative lack of workers kept U.S. wages generally higher than salaries in Europe and provided an incentive to mechanize some tasks.
1919 General Steel Strike. The Great Steel Strike of 1919 was an attempt by the American Federation of Labor to organize the leading company, United States Steel, in the American steel industry. The AFL formed a coalition of 24 unions, all of which had grown rapidly during World War I.