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Reference.org
History of the steel industry (1970–present)
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<p>The global steel industry has been going through major changes since 1970. <a href="/facts/Steel_industry_in_China/gwmlnRye">China</a> has emerged as a major producer and consumer, and <a href="/facts/Iron_and_steel_industry_in_India/Q95LGcgE">India</a> has, to a lesser extent. Consolidation has been rapid in <a href="/facts/Europe/DTAtrKfh">Europe</a>. According to the 2019 <a href="/facts/International_Energy_Agency/HErEraSy">International Energy Agency</a> (IEA) report, the iron and steel industry directly contributed 2.6 Gt to global CO2 emissions and accounted for 7% of global energy demand. Singapore is the world's main trading hub for iron, with about 90% of the world's iron ore derivatives traded on their stock exchange. </p>