Automobile is one the major industries demanding steel globally. So investigation of car industry can help analyst to predict steel market! A report was published in World Steel website, analyzing why automobile industry is strongly demanding steel:
- Strong but cost effective: steel in comparison with aluminum and some compact plastics is stronger and also more affordable.
- Environmental advantage: compared with aluminum and carbon fiber which can recycle 60% ~ 65%, steel is completely recyclable (100%).
- High protection and safety: steel has high protective power wherever it is used.
- Flexibility in design: helping designers to create new shapes and patterns.
- Balanced: due to the high weight of steel and its strength, is more balanced in the roads.
- Electric steel used in automotive: in production of future electric cars, steel has the best conductivity and no electric mobility would be possible without steel.