Industry Analysis & Industry Trends
The Iron and Steel Manufacturing industry contended with some heated trading conditions over the past five years. The industry's fortunes are largely dependent on the level of activity in the construction and automotive industries, in addition to the prices of key inputs such as raw and fabricated steel. The deterioration of domestic and global economic conditions in late 2008 caused trouble for the industry as demand began to contract, especially from the automotive industries. Institutional and commercial construction remained resilient until existing projects were completed. Meanwhile domestic steel prices reached near historic highs in 2008-09, before falling dramatically the next year. Producers also had to contend with increasing import competition, which eroded profit margins... purchase to read more
Industry Report - Industry Analysis Chapter
The Iron and Steel Manufacturing industry is highly dynamic and versatile, supplying products and services to a host of downstream industries, ranging from household appliances to automotive manufacturing. However, the industry's fortunes are primarily dependent on the level of industrial activity in the economy, particularly construction, transportation and heavy manufacturing, such as machinery and equipment production.
Market turbulence characterised the past five years. The turbulence began with the credit crisis and subsequent collapse of the housing market, and culminated in the recession, which crippled demand. Input price volatility, especially for raw steel and crude oil, significantly affected profitability as global commodity prices skyrocketed... purchase to read more