355 Essentials of Strategic Management

Topics: Steel, Iron, Blast furnace Pages: 1 (313 words) Published: November 14, 2014
Case 7

Nucor Corporation in 2012: Using Economic Downturns as an Opportunity to Grow Stronger

Percent of
Worldwide
Production

Country

Total Production
of Crude Steel

China

752 million tons

45.9%

Japan

118 million tons

7.2%

United States

95 million tons

5.8%

India

79 million tons

4.8%

Russia

76 million tons

4.6%

South Korea

75 million tons

4.6%

Exhibit 8 shows the world’s 15 largest producers of steel in 2010.

Steelmaking Technologies
Steel was produced by either integrated steel
facilities or “mini-mills” that employed electric arc furnaces. Integrated mills used blast furnaces to produce hot metal typically from

iron ore pellets, limestone, scrap steel, oxygen,
assorted other metals, and coke (coke was produced by firing coal in large coke ovens and was the major fuel used in blast furnaces to produce molten iron). Melted iron from the blast furnace process was then run through the basic

oxygen process to produce liquid steel. To make
flat rolled steel products, liquid steel either was
fed into a continuous caster machine and cast
into slabs or was cooled in slab form for later
processing. Slabs were further shaped or rolled
at a plate mill or hot strip mill. In making certain
sheet steel products, the hot strip mill process
was followed by various finishing processes,
including pickling, cold-rolling, annealing,
tempering, galvanizing, or other coating procedures. These various processes for converting raw steel into finished steel products were often
distinct steps undertaken at different times and
in different onsite or offsite facilities rather than

EXHIBIT 8

Top 15 Steel Companies Worldwide, Based on Crude Steel Production, 2010 Crude Steel Production (in millions of tons)
2010 Rank

355

Company (Headquarters)

2005

2010

1.

ArcelorMittal (Luxembourg)

120.9

98.2

2.

Baosteel (China)

25.0

37.0

3.

POSCO (South Korea)...
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