Material Insights · Understanding the Material World

Steel

Iron alloyed with a little carbon: the backbone of buildings, machines and transport, made at about 1.9 billion tonnes a year.

Steel & alloying · No. 13

  • Not on a critical list
Steel & alloying · Foundation · Matter

China makes more steel than the rest of the world combined: 1.01 billion of 1.88 billion tonnes in 2024.

Chart: Illustration: Steel

Where it comes from

Chart: Map of where it comes from

Steel is made, not mined. Blast furnaces smelt iron ore with coke, then oxygen burns off excess carbon; or electric arc furnaces melt old scrap.

Three things to know
  1. Recycling one tonne of steel saves about 1.1 tonnes of iron ore and 0.6 tonne of coking coal.
  2. North America recycles more than 13 million tonnes of steel a year from roughly 17 million scrapped cars.
  3. Making steel from scrap emits about 0.71 t CO2e per tonne, against 2.66 t via the blast furnace.
The journey
  1. 1 Raw materialsIron ore, coking coal, limestone, or scrap
  2. 2 Blast furnaceSmelts ore into molten pig iron
  3. 3 SteelmakingOxygen furnace, or arc furnace melting scrap
  4. 4 CastingContinuously cast into slab, billet, bloom
  5. 5 RollingCoil, plate, rebar and sections
Covered in What makes something a commodityCommoditiesFrom ground to marketCommoditiesSupply, demand and the cost curveCommoditiesReserves, stocks and depletionCommoditiesPrices and cyclesCommoditiesHow commodities tradeCommoditiesand 27 more
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