The World Steel Association predicts that after a slight decline in steel demand in 2020, steel demand in 2021 will increase by 5.8% to 1.87 billion metric tons. The rebound in demand from the automotive industry is the main factor driving the growth of the steel market.
The iron and steel industry mainly includes the mining and production of ferrous metals such as iron, chromium, manganese, and other minerals. It is one of Taiwan’s most important raw material industries.
With the rapid development of the iron and steel industry, the iron steel industry has gradually shown contradictions such as insufficient natural resources, excessive energy consumption per ton of output, and environmental pollution. As the second mining industry of the iron and steel industry, scrap steel resources have the advantages of saving energy, reducing pollution, protecting the environment, recycling, etc., and its influence will be increasing.