Manufacture of basic iron and steel

isic code 241, 'Manufacture of basic iron and steel', is a crucial industry within the broader manufacturing sector. It plays a vital role in the global economy, providing the raw materials and semi-finished products that are essential for the construction, automotive, machinery, and numerous other industries. The manufacture of basic iron and steel is a capital-intensive process that requires significant investment in infrastructure, technology, and skilled labor, making it a key driver of economic development and industrialization.

The primary production techniques used in the manufacture of basic iron and steel involve the extraction and refining of iron ore, the reduction of iron ore to pig iron, and the subsequent conversion of pig iron into various steel products. This process typically involves the use of blast furnaces, basic oxygen furnaces, and electric arc furnaces, as well as various rolling and finishing techniques to shape the final steel products.

The main inputs required for the manufacture of basic iron and steel include iron ore, coal, limestone, and various alloying elements such as chromium, nickel, and manganese. Additionally, the industry relies on specialized machinery, such as blast furnaces, rolling mills, and casting equipment, as well as a skilled workforce capable of operating and maintaining these complex production systems.

The primary outputs of the basic iron and steel industry include a wide range of semi-finished and finished steel products, such as 242 Manufacture of tubes, pipes, hollow profiles and related fittings, of steel, 251 Manufacture of structural metal products, 281 Manufacture of general-purpose machinery, and 291 Manufacture of motor vehicles. These steel products are then consumed by various downstream industries, contributing to the overall economic development and growth.