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The Hindu : Business : Steel producers bet on new market dynamics (1277 words) |
 | Chinese consumption of steel this year is slated to be in the vicinity of 290 million tonnes for a population of 1.3 billion people. |
| Except steel that goes into buildings, which are not available for scrap, every other steel that goes into industrial buildings, cars, refrigerators and the like is available as scrap after roughly 15 years. |
| Since steel consumption grew at only 1.8 per cent in the last 15 years or so, the steel that was used in the last 15 years will be insufficient to sustain the extent of steel making that is going to happen through the electric arc furnace route in the next 15 years. |
| Steel Manufacturing (3274 words) |
| Steel scrap from many sources—such as old bridges, refrigerators, and automobiles—and other additives are placed in an electric arc furnace, where the intense heat produced by carbon electrodes and chemical reactions melts the scrap, converting it into molten steel. |
| The steel industry traditionally has been located in the eastern and midwestern regions of the country, where iron ore, coal, or one of the other natural resources required for steel are found. |
| Employment in the steel industry is expected to decline 13 percent over the 2004-14 period, primarily due to increasing consolidation in the industry as companies are bought by other companies in the industry and their operations merge. |
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