Author: H. Booth
American Metal Market (AMM) - Mini-Mill Supplement - December 2009
Abstract
Since 1980 the North American steel industry has undergone enormous transformation. In fact, the last twenty years have seen revolutionary change in the industry, unlike any since Andrew Carnegie consolidated a “mom and pop” industry. Carnegie created the business model of “big steel” that was to dominate domestic and
foreign steel production for almost a hundred years. Some of the revolutionary changes of the last twenty years are well known to all observers of the industry. Increased competition by highly efficient rebuilt foreign mills in Western Europe and the Far East took a toll on domestic producers. Alternative materials like plastic,
aluminum, reinforced concrete, and powder metals eroded steel's share of traditional markets. Strict environmental regulations diverted scarce dollars at a time when large capital investments were required to replace aging and inefficient plants and equipment.
