This article is intended only to address the business, economic and social dimensions of the industry, since the bulk production of steel began as a result of Henry Bessemer's development of the Bessemer converter, in 1857. Since then, steel has become a staple of the world's industrial economy. The history of the modern steel industry began in the late 1850s. After 1950, the iron and steel industry began to be located on large areas of flat land near sea ports. For recent history, see History of the steel industry (1970–present).īefore 1800 A.D., the iron and steel industry was located where raw material, power supply and running water were easily available. For the history of earlier processes, see History of ferrous metallurgy.
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