According to the report released by Oxford Economics in May, the steel industry steel played a pivotal role in the world.
In 2017, there were over 6 million people engaging in steel industry chains globally. Its contribution to the global economy equaled 3.8% of the global GDP, which was estimated to provide support for 96 million relevant industrial jobs.
The report further pointed out that the value increase of US$1 in steel industry would help to realize another US$2.5 increase in other sectors of the global economy.
In the latest issue of World Steel in Figures 2019, the World Steel Association (worldsteel) indicated that over the past 100 years, steel was the physical foundation of social development and progress. And in the coming 100 years, it would continue to exert its function as the physical foundation of social development and face challenges arising from social development.
Source from Yieh Corp
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