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Global steel production grew enormously in the 20th century from a mere 28 million tonnes at the beginning of the century to 781 million tons at the end. [4] Per-capita steel consumption in the US peaked in 1977, then fell by half before staging a modest recovery to levels well below the peak. [5]
In 1945, the US produced 67% of the world's pig iron, and 72% of the steel. By comparison, 2014 percentages were 2.4% of the pig iron, and 5.3% of the steel production. Although US iron and steel output continued to grow overall through the 1950s and 1960s, the world steel industry grew much faster, and the US share of world production shrank ...
The European Community tripled its steel production during the 1950–1970 period, and remained a net exporter of steel into the 1980s. The end of the post-World War II boom also played a role as markets matured and became saturated and demand for steel peaked in construction, appliance makers, and auto manufacturing. [10]
The closure of Ravenscraig in 1992 signalled the end of large-scale steel making in Scotland. [8] It led to a direct loss of 770 jobs, and another 10,000 jobs linked to these [ 9 ] (although the nearby steel plants at Dalzell in Motherwell and Clydebridge in Cambuslang were in 2012 still in operation under the ownership of Tata Steel Europe ...
Graph of US iron and steel production, 1900–2014, data from USGS 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 coke in ore smelting, adopted the Bessemer process, and saw the rise of very large integrated steel mills.
Steel imports had been negligible prior to 1959. [3] But during the strike, basic U.S. industries found Japanese and Korean steel to be less costly than American steel even after accounting for importation costs. The sudden shift toward imported steel set in motion a series of events, which led to the gradual decline of the American steel industry.
The Rust Belt experienced industrial decline starting in the 1950s and 1960s, [2] with manufacturing peaking as a percentage of U.S. GDP in 1953 and declining ever since. Demand for coal declined as industry turned to oil and natural gas, and U.S. steel was undercut by German and Japanese firms. High labor costs within the Rust Belt encouraged ...
The new company expanded rapidly in the 1960s. In 1965 giant Taranto integrated iron and steel complex became operational, employing 5,000 workers and adding 10.5 million tons of capacity to Italsider. [6] However, by the early 1970s steel production in the EEC was suffering from overcapacity and