Hello! In today’s blog we will discuss about the steel industry and how much money you can make by simply investing in this industry, I will cover all the points. So let’s get started:
How big is the steel industry?
The world crude steel amount in 2020 was an enormous 1.86 billion metric tons.
The COVID-19 pandemic didn’t hinder much the production of steel but the price was negatively affected and eventually it occurred big loss to some of the biggest global steel companies.
China is the largest producer of steel and the global steel industry is worth $ 290 billion dollars.
Future of the steel industry:
The future appears to be very good of the steel industry if they find out an ecological way to produce it because the harmful products emitted in making steels are oxides of nitrogen, sulphur and carbon monoxide drastically affects the world, and some of the by-products is also very much harmful.
Which industry use the most steel?
Nearly half of the world steel is used by construction industry and that’s a massive amount. Modern buildings and skyscrapers require more than any other buildings, lots of steel is used in the making of the empire State building, Burj khalifa and many other skyscrapers.
After the construction industry, automobile industry comes at second there are various types of steel used in the making of automobiles like hot dipped galvanized steel, electro galvanized steel and galvannealed steel sheets. It’s obvious that iron and steel make the 70% of the automobile weight.
Machinery Industry is the third-largest consumer of steel. Machinery Industry make equipments made of steel by cutting steel, it make equipments for agriculture, trains, mining and many other purposes.
The United States is the largest consumer of steel and China comes at second.
Top 3 companies to invest in the steel industry:
1) JSW STEEL:
The first company to invest in the steel industry is JSW STEEL, it has a market cap of 1,69,326 crores and the price of it’s stock is 700 rupees INR.
Currently it is falling so after it falls a little bit it would be the right time to invest.
2) TATA STEEL:
This company needs no introduction it is the Tata steel company one of the biggest players in the game, it has a market cap of 1,39,104 crores and its the stock price is 1234 rupees INR.
The third company is HINDALCO its market cap is 88,168 crores and its stock is 392 rupees INR.
So this is my blog about the steel Industry.
– Shivam Shaw