Bureau of Mines / Minerals yearbook: Metals, minerals, and fuels 1972
Year 1972, Volume 1 (1972)
Brantley, F. E.
Iron and steel, pp. 641-666 PDF (2.9 MB)
641Iron and Steel By F. E. Brantley1 The iron and steel industry continued to recover during the first part of the year from its poor performance in 1971. Except for a brief midseason slump, this momentum was maintained for the remainder of the year and total raw steel 2 production was up 10.6% over that of 1971. Steel mill shipments increased almost 5 million tons, but were 2 million tons short of the record set in 1969. Returns on sales and investment again were among the lowest for any industry, and it was apparent that a number of problems needed to be resolved if this segment of the Nation's economy is to maintain a position of world leadership. The most pressing were as follows: Shortage of available capital for installation of more efficient steelmaking equipment and for expansion, limiting the increasing unports, rebuilding of export markets, pollution controls, rising costs of raw materials (particularly ferrous scrap), and the threat of energy shortages. Extensions of voluntary steel import re straints were agreed to by Japan and the European Community (E~~ countries. However, a number of other countries~ markedly increased shipments into the United States. Apparent consumption of steel products, adjusted for imports and exports, was up 4%. Increased steel production was reported for all major producing countries of the world, and accompanied a general improvement in the world's economic situation. Total world raw steel production increased by 8 percent to 692 million short tons, and the U.S.S.R. increased its lead as the world's largest producer at 189 million tons. Japan was in third place, after the United States, with 107 million tons.. Spain's production reached 10 million tons, a 23% increase over 1971 output. 1 Physical scientist, Division of Ferrous Metals, Assistant Directorate—Mineral Supply. 2 The term raw steel, as used by the American Iron and Steel Institute, includes ingois, steel castings, and continuously cast steel. It corresponds to the term crude steel as used by the United Nations. Table l.—Salicnt iron and steel statistics (Thousand short tons) 1968 1969 1970 1971 19'12 United States: Pig iron: Production Shipments Exports Imports for consumption Steel: 1 88,767 89,085 9 786 95,003 95,472 44 405 91,293 91,272 310 249 81,382 81,332 34 306 88,864 89,048 15 637 Production of raw steel: Carbon Stainless All other alloy 116,269 1,432 13,761 124,832 1,569 14,861 117,411 1,279 12,824 107,007 1,263 12,173 117,698 1,564 13,979 Total Index1 131,462 103.1 141,262 111.0 131,514 103.4 120,443 94.7 133,241 104.5 Total shipments of steel mill products Exports of major iron and steel products - Imports of major iron and steel products ~_ World production: Pig iron Raw steel (ingots and castings) 91,856 2,673 18,346 418,000 584,000 93,877 5,788 14,528 453,000 633,000 90,798 7,657 13,861 475,000 655,000 87,038 3,526 18,744 474,000 640,000 91,805 3,546 18,158 499,000 692,000 1American Iron and Steel Institute. Includes ingots, continuous cast steel, and all other cast forms. 2Based on average production in 1967 as 100. Data not comparable for all years.
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