Iron & Steel: market research reports

Raw iron combined with carbon makes steel, one of the strongest, economical, plentiful and versatile metals available. Iron by itself is too soft to make bridges and other structures. Combined in an alloy compounds, it gives strength to metals to form many types of steel. The most common form of steel recognized is stainless steel, used in surgical instruments, eating utensils, and many other daily tools.

Making steel from iron is achieved through one of several processes. Basic Oxygen Process (BOP), open-hearth process or electric-furnace process are the three prominent methods. In BOP, an open container called a basic oxygen furnace into which pure oxygen is injected. Open-hearth process uses pig iron, iron ore and scrap metal burned until they fuse together. The carbon combines with oxygen, pours off as slag and the iron turns to molten steel. In electric-furnace process, electric arcs to melt pig iron or scrap steel. Because the heat is much more easily controlled in an electric furnace, this method is used to make higher specification alloy, carbon, and tool steels.

Steel is used in jet building, ship building, bridge building, automobiles, construction and more.