ABSTRACT

Steel is one of the most ubiquitous commodities used in modern day society. It is the cornerstone and key driver of the global economy with irreplaceable applications in construction, mining, transport and energy sectors. According to the World Steel Association (2012), about 215 kg of steel was used per capita in the world in 2011, and over two million people were employed in the steel industry directly. Despite the current commodity slump being experienced in the global market, the global crude steel production reached 1.662 billion tonnes in 2014, signifying a 1.2% increase from 2013 (World Steel Association, 2012, 2015a). Generally, the growth in the global iron and steel industry is optimistic, mostly due to increased demand for infrastructure as a result of increased urbanization. Figure 4.1 summarizes the global crude steel production in the period from 1970 to 2014 (World Steel Association, 2012, 2015a).