The history of the modern steel industry began in the late 1850s, but since then steel has been basic to the world's industrial economy. Events and Trends Industry Production of Steel revolutionized by invention of the Bessemer process Benjamin Silliman Steel is an Alloy consisting mostly of Iron, with a Carbon content between 0 This article is intended only to address the business, economic and social dimensions of the industry, since the bulk production of steel began as a result of Henry Bessemer's development of the Bessemer converter in 1857. Steel is an Alloy consisting mostly of Iron, with a Carbon content between 0 Sir Henry Bessemer ( January 19, 1813 – March 15, 1898) English Engineer and Inventor. The Bessemer process was the first inexpensive Industrial process for the mass-production of Steel from molten Pig iron. Click here for Indian Rebellion of 1857 Year 1857 ( MDCCCLVII) was a Common year starting on Thursday (link will display the Previously steel was expensive to produce and only used where nothing else would do.
Germany has become one of the world’s most important steel-producing nations. Germany, officially the Federal Republic of Germany ( ˈbʊndəsʁepuˌbliːk ˈdɔʏtʃlant is a Country in Central Europe. The "German Steel Federation" was established in 1874. Year 1874 ( MDCCCLXXIV) was a Common year starting on Thursday (link will display the full calendar of the Gregorian calendar (or a Common 
The Indian steel industry began expanding into Europe in the 21st century. In January 2007 India's Tata Steel made a successful $11. 3 billion offer to buy European steel maker Corus Group PLC. In 2006 Mittal Steel (based in London but with Indian management) acquired Arcelor for $38. 3 billion to become the world's biggest steel maker.
In the United States the central figure was Andrew Carnegie, who made Pittsburgh the center of the industry. Andrew Carnegie (properly kɑrˈneɪgi but commonly /ˈkɑrnɨgi/ or /kɑrˈnɛgi/ (25 November 1835 – 11 August 1919 was a Scottish -born American Industrialist He sold his operations to US Steel in 1901, which became the dominant steel corporation for decades. The United States Steel Corporation ( is an integrated Steel producer with major production operations in the United States, Canada, and Central Europe
Carnegie's great innovation was in the cheap and efficient mass production of steel rails for railroad lines. Andrew Carnegie (properly kɑrˈneɪgi but commonly /ˈkɑrnɨgi/ or /kɑrˈnɛgi/ (25 November 1835 – 11 August 1919 was a Scottish -born American Industrialist
In the late 1880s, Carnegie Steel was the largest manufacturer of pig iron, steel rails, and coke in the world, with a capacity to produce approximately 2,000 tons of pig metal per day. Pig iron is the intermediate product of Smelting Iron ore with coke, usually with Limestone as a flux Coke is a solid Carbonaceous material derived from Destructive distillation of low-ash low-sulfur Bituminous coal. In 1888, he bought the rival Homestead Steel Works, which included an extensive plant served by tributary coal and iron fields, a 425-mile (685 km) long railway, and a line of lake steamships. Homestead Steel Works, located in Homestead Pennsylvania, was a rival of the steel company Carnegie Steel, founded by Andrew Carnegie (an immigrant of Lake freighters, or Lakers, are Cargo vessels that ply the Great Lakes. A consolidation of Carnegie's assets and those of his associates occurred in 1892 with the launching of the Carnegie Steel Companie.
By 1889, the U. S. output of steel exceeded that of Britain, and Andrew Carnegie owned a large part of it. By 1900, the profits of Carnegie Bros. & Company alone stood at $40,000,000 with $25,000,000 being Carnegie's share. Carnegie's empire grew to include the J. Edgar Thomson Steel Works, (named for John Edgar Thomson, Carnegie's former boss and president of the Pennsylvania Railroad), Pittsburgh Bessemer Steel Works, the Lucy Furnaces, the Union Iron Mills, the Union Mill (Wilson, Walker & County), the Keystone Bridge Works, the Hartman Steel Works, the Frick Coke Company, and the Scotia ore mines. John Edgar Thomson ( February 10 1808 – May 27 1874) was an American Civil engineer, railroad executive and Industrialist Carnegie, through Keystone, supplied the steel for and owned shares in the landmark Eads Bridge project across the Mississippi River in St. Louis, Missouri (completed 1874). The Eads Bridge is a combined road and railway bridge over the Mississippi River at St The Mississippi River is the second longest River in the United States, with a length of from its source in Lake Itasca in Minnesota to This project was an important proof-of-concept for steel technology which marked the opening of a new steel market.
By 1900 the US was the largest producer and also the lowest cost producer, and demand for steel seemed inexhaustible. The United States Steel Corporation ( is an integrated Steel producer with major production operations in the United States, Canada, and Central Europe Output had tripled since 1890, but customers, not producers, mostly benefitted. Productivity-enhancing technology encouraged faster and faster rates of investment in new plants. However during recessions, demand fell sharply taking down output, prices, and profits. Charles M. Schwab of Carnegie Steel proposed a solution: consolidation. For the founder and CEO of the Charles Schwab Corporation brokerage firm see Charles R Carnegie Steel Company was a steel producing company created by Andrew Carnegie to manage business at his Steel mills in the Pittsburgh Pennsylvania J. P. Morgan and Elbert Gary led the team that worked with Carnegie and Schwab to create United States Steel, by far the largest non-railroad corporation in the world in 1901. John Pierpont Morgan ( April 17, 1837 &ndash March 31, 1913) was an American financier banker and art collector who Elbert Henry Gary ( October 8, 1846 – August 15, 1927) was an American lawyer and corporate officer
US Steel combined finishing firms (American Tin Plate, American Steel and Wire, and National Tube) with two major integrated companies, Carnegie Steel and Federal Steel. It was capitalized at $1. 466 billion, and included 213 manufacturing mills, one thousand miles of railroad, and 41 mines. In 1901, it accounted for 66% of America's steel output, and almost 30% of the world's. During World War I, its annual production exceeded the combined output of all German and Austro-Hungarian firms.
After 1970 the company could no longer compete effectively with low-wage producers elsewhere. Imports and mini-mills undercut its sales. It went into oil then was spun off in 2001. Finally US Steel reemerged in 2002 with plants in three American locations (plus one in Slovakia) that employed fewer than one-tenth the 168,000 workers of 1902.