The world steel industry is growing and manufacturing the world class steel made products. Asian countries are dominating the steel market by consuming the tons of steel scrap. Indian, is the Asian county, has become a faster growing steel consumer country in the world for meeting the huge steel product requirements of the in- house steel consumers. It is witnessed that the world has become the global steel hub as the enormous developments in the leading world consumer companies is being documented. Digital Steel International says, There is no industry left in the world, which is running without steel. Architecture, engineering, construction, art, shipping and even medical industry could not work without steel made equipments, tools and devices.
Increasing demand of steel scrap is noticed from all manufacturing and steel production sectors of the world market. Economy and industry services are depending upon the steel projects widely accomplished to improve the infrastructure. It is difficult to say that which of the manufacturing sectors consuming the steel at a rapid rate. For accomplishing the ongoing attempt to improve the standard of living in the faster growing countries, billions of dollars steel is imported & exported consistently. The steel industry raises a revolutionary step by introducing the beneficial steel policies and codes to control the wastage of steel consumption. Nevertheless, such an act of improvement results in controlling the unpredicted ups and downs in the steel marketing business.
“In the 1990’s the world steel sector was dominated by the US, but India is also blooming with TISCO and The Mittal Steel manufacturing companies” says Digital Steel International. TISCO has become the fifth biggest steel production company in the world tagged with highest steel stock prices. Since the demand of the steel is increasing day by day, it results in strong beneficial infrastructure and improved marketing conditions. Steel sector is becoming more important and competitive sector with every passing day. Automobile and infrastructure companies are buying good quality of steel regularly by paying huge transpiration costs. Oil containers, gas containers and heavy transportation vehicles offers great help to the steel industry to fulfil the purpose of steel buyers. Thus, container manufacturing industry is growing equally with the development of steel stock. Consequently, the other manufacturing and industrial construction sector are moving faster so as steel sector.