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Steel Industry Overview

Date:02/09/2016   View: 802   Tags: Steel Industry
The Steel Industry, is broken into two groups, the Steel (General) and the Steel (Integrated) Industries. The former is largely a collection of recyclers, manufacturing semi-finished carbon steel from scrap (which is found principally in discarded auto bodies), steel processors, and steel distributors. In the so-called nonintegrated steel manufacturing process, ferrous scrap is melted down to produce semi-finished steel in electric arc furnaces. The Steel (Integrated) Industry consists of companies that use iron ore and coal, as well as scrap, to produce carbon, semi-finished steel. This is an older process that has undergone many refinements over the past quarter century.
Within these two parts of the same aggregate industry, one will find stocks for growth and income, speculative growth, and well-defined growth. As for the individual companies, investors will, as noted, come across producers, processors, and distributors, as well as providers of raw materials, such as iron ore.

Steel companies are, by nature, capital and labor intensive. The older, integrated mills are also, in most cases, encumbered by burdensome legacy costs, notably pensions and retiree health care tabs. It was such legacy costs, along with earlier recessions, that caused a number of formerly large and venerable integrated producers to fall permanently by the wayside over the past two decades.

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