ABSTRACT
This chapter aims to investigate the changes in Asia’s steel industry and to draw policy implications for global steel consumption, production and trade. In the 1980s and 1990s, the economies of Asia, especially East Asia, have experienced phenomenal growth. This growth has significantly changed the weight of Asia in the world economy. Robust growth in major Asian economies is predicted to continue well into the first decade of the twenty-first century. With fast economic growth, Asia as a region has become the key to the future expansion of the global steel industry. Asian developing countries doubled their steel consumption and production. Steel output and consumption have expanded especially rapidly in East Asia, with Japan still remaining the number one steel producer. Asian countries with the exception of Japan and Korea are net buyers in the international steel market. The chapter also presents an overview of the key concepts discussed in this book.
