Steel Industry

Definition

The steel industry involves processing iron ore into steel - an alloy characterized by high tensile strength and malleability - which is used extensively in construction and other industries.

Related terms

Bessemer Process: An industrial process for making steel using molten pig iron (a high-carbon iron made by smelting iron ores).

Carnegie Steel Company: Founded by Andrew Carnegie and several partners; it dominated the American steel industry during its time due to innovative strategies including cost-efficient production methods.

Industrialization: The development of industries in a country or region on a wide scale.