Iron & Steel Manufacturing in the US
The Iron and Steel Manufacturing Industry has endured exceptionally difficult operating conditions over the five years to 2016. Industry revenue follows fluctuations in the world price of steel products, which reflects global supply and demand trends. Ultimately, downward pressure on steel prices due to global overcapacity, coupled with the sharp appreciation of the US dollar in recent years, has presented a significant challenge to domestic steel producers. Revenue is expected to decline as industry operators continue to struggle with historically low steel prices, poor domestic demand from industrial markets and intense competition from imports, despite increased government assistance in the form of trade policies. However, volatile but generally rebounding steel prices, stronger downstream demand and increased specialization are likely to revitalize industry revenue in the coming five years to 2020.
Companies in this industry manufacture pig iron, steel and ferroalloys. Pig iron is often manufactured in a blast furnace or via newer direct-reduction methods. Steel may be manufactured in basic oxygen furnaces (newly made steel) or in electric arc furnaces (recycled steel). This industry also includes operators that manufacture basic steel shapes, such as bars, plates, rods, sheets, strips and wire or form pipes and tubes from steel they have produced themselves.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.