Stages of development of ferrous metals market

Items that form the technological chain of transformation of iron and non-ferrous metal into usable products form the market of ferrous and non-ferrous metals. Ferrous metals are iron, manganese and chromium. All other metals are considered non-ferrous metals. This also applies to scrapy car removal in mississauga.

Development stages of metals market

The following stages of development of the global market for ferrous and nonferrous metals can be distinguished:

Early twentieth century

. Development of metallurgy in a small number of countries: USA, England, Germany, Belgium, Luxemburg and Russia. Change of leaders in the industry occurs very slowly. The main exporters are large producers, because the production of ferrous metal is highly dependent on sources of raw materials and is very expensive.
40-50s of the twentieth century. The invention of new ways to process metals and lower production costs. Countries keep a close eye on ferrous metal production and exports/imports, as some view the steel industry as part of their defense capabilities.
1980s. Demand for ferrous metals conti

nues to grow despite the emergence of new materials: nonferrous metals, plastics, and carbon-containing materials. Iron ore is being mined at a breakneck pace.
1990s. Metal prices gradually decline. The iron ore industry in such highly developed countries as Germany, England, France and Japan, even in the United States, begins to wind down. Iron ore production comes first; Canada, Australia, Angola and other countries (mostly for export to highly developed nations).
Our days. The major producers of iron ore are China, India, Australia, Brazil, and Russia. Major exporters are Australia, Brazil, Canada and Russia. Importers are China, the U.S. and Japan. According to experts’ estimates, China’s imports have grown very much. Demand for iron ore and scrap by Chinese steel companies in the coming years will remain high. So, it is unlikely that the decline in prices in the global metals market should be expected.

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