Decline In The Iron And Steel Mills And Ferroalloy Manufacturing Market
Posted by praneeth on September 25th, 2018
The iron and steel mills and ferroalloy manufacturing industry includes companies carrying out activities such as reduction of iron ore, transforming pig iron into steel, and producing molten or solid pig iron, steel, steel and forming pipe and tube, electrometallurgical ferroalloys, and steel and manufacturing shapes such as bar, plate, rod, sheet, strip, and wire.
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The global iron and steel mills and ferroalloy manufacturing market has shown a decline in the past years with a CAGR of over negative 3%. The year 2017 recorded lowest ever value in this market with a net worth of around USD 2 trillion, which was at the highest in 2013 (about USD 2.6 trillion), as per TBRC’s inhouse consultants.
TBRC’s latest report show latest and forecasted trends in the market for each year with sourced reasons to support the trends claims.
The report also shows the iron and steel mills and ferroalloy manufacturing market to grow at a higher CAGR till 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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Decline in this market was due to high operational cost and stringent regulations regarding ferroalloys, steel and iron manufacturing.
Going forward, the market is expected to decelerate, albeit at a slower pace than the historic growth rate, due to continued weakness and oversupply in the steal market undermining pricing.
Increasing construction activity in countries such as Brazil, Russia, India, China, and South Africa (BRICS) will stimulate the development of the market.
Companies included in the report are Arcelor Mittal S.A., POSCO, China BaoWu Steel Group Corporation Limited, Nippon Steel & Sumitomo Metal Corp, and JFE Engineering Corporation.
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About the Authorpraneeth
Joined: June 6th, 2018
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