The steel industry has undergone numerous changes
in the last few years. The current situation in the steel industry is very precarious, due to a general decrease of worldwide
steel consumption, a lower demand for basic steel products from the automobile and construction industries, and
competition from newer materials, such
as aluminum and plastics.
Quantity produced continues
to exceed demand, with significant overproduction in mature countries and
growing capacity in developing countries. This situation has resulted in production cutbacks around the world, resulting
in increased concentration among the major players of the steel industry, and extremely challenging financial conditions. |
 |
Equally challenging as these market challenges are
the
wide-ranging risks associated with Steel Mills, including
explosion, fire, machinery breakdown, business interruption and radioactive contamination. High temperatures,
radioactivity, and high voltage electricity
are among some
of the major known risks which require protective procedures.
Due to a heightened awareness of environmental issues,
federal and local regulations and
a closer scrutiny of a
risk-impacted bottom line, the steel industry has made
significant investments toward internal innovations
geared toward environmental improvement. Despite these signs of progress, significant environmental risks must be known and dealt with in order to prevent
their occurrence. |
