Iron and Steel Industry


 
 
Concept Explanation
 

Iron and Steel Industry

Iron And Steel Industry:  This is a basic industry since all the other industries-heavy, medium and light. depend on it for their machinery. Steel is needed to manufacture.engineering goods, construction material, a large variety of equipment e.g. medical, telephonic, scientific) and also consumer goods. Its production and consumption is often regarded as the index of a country's development. Iron and steel is a heavy industry because all the raw materials as well as finished goods are heavy and bulky involving heavy transportation costs. Iron , ore, coking coal, limestone and some quantities of manganese are required in approximately 4:2:1 ratio as raw materials to harden the steel for this industry.Facts about Iron and Steel Industry

  • India is the largest producer of sponge iron which is an intermediate product of this industry.
  •  In 2004, India was the largest exporter of steel which accounted for 2.25% of the global steel trade. However, China is the largest producer as well as consumer of steel.
  •  In 2010-11 India's steel production stood at 72.2 million tonnes (4th in the world).
  •  During same period, per capita consumption of steel in the country was only around 49 kg/ annum against the world average of 182 kg/annum.
  • Location of Iron and Steel Industry: Chota nagpur plateau region has the maximum concentration of iron and steel industries because of the low cost of iron ore (locally available), other high grade raw materials available nearby and availability of cheap labour. Most of the public sector undertakings market their steel through Steel Authority of India Limited (SAIL), while Tata Iron and Steel Company Limited (TISCO) markets its products by itself in the name of Tata Steel .

    Challenges for Iron and Steel Industry: India is not able to perform to its full potential in this industry due to;-

  • Limited availability and high cost of coking coal.
  • Poor infrastructure.
  • Low labour productivity.
  • Irregular supply
  • Although India imports good quality steel from other countries, the overall production of steel is sufficient to meet its domestic demand. Liberalisation and Foreign Direct Investment (FDI) have boosted the industry, but to produce steel competitively, better research and development is needed in this area.Mini and Integrated Steel Plants : Mini steel plants are smaller steel plants having electric furnaces. They use steel scrap and sponge iron. They have re-rollers that use steel blocks  as well. They produce mild and alloy steel of given specifications. An integrated steel plant is large. It handles everything in  one complex-from putting together raw material to steel making, rolling and shaping.

    Sample Questions
    (More Questions for each concept available in Login)
    Question : 1

    Iron ore, cooking coal and limestone are the chief raw materials of which industry?

    Right Option : A
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    Explanation
    Question : 2

    Which factors influence the location of iron and steel industry?

    Right Option : D
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    Explanation
    Question : 3

    In _______ , iron and steel industry has developed taking advantages of its raw materials, cheep labour, transport and market.

    Right Option : C
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    Explanation
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