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Pig iron, also known as crude iron, is an intermediate good used by the iron industry in the production of steel. It is developed by smelting iron ore in a blast furnace . Pig iron has a high carbon content, typically 3.8–4.7%, [ 1 ] along with silica and other dross , which makes it brittle and not useful directly as a material except for ...
Benner Cycle is a chart depicting market cycles between the years 1924 to 2059. The chart was originally published by Ohioan farmer Samuel Benner in his 1884 book, "Benner's Prophecies of Ups and Downs in Prices". [1] [2] The chart marks three phases of market cycles: [3] A. Panic Years - "Years in which panic have occurred and will occur again."
In 1945, the US produced 67% of the world's pig iron, and 72% of the steel. By comparison, 2014 percentages were 2.4% of the pig iron, and 5.3% of the steel production. Although US iron and steel output continued to grow overall through the 1950s and 1960s, the world steel industry grew much faster, and the US share of world production shrank.
There was an increase in pig iron prices in the early 1870s, which led to the formation of a number of colonial-era iron-making ventures in Australia. A world-wide shortage caused the price of imported pig-iron to increase, from £4 10s per ton in 1870 to £9 per ton in 1873 [1] greatly advantaging locally manufactured iron. This period has ...
Pig iron production. This is a list of countries by pig iron production. Pig Iron production (million metric tons) Rank Country 1980 2013 2015 World: 506: 1,168:
Iron ore, coke, and flux are fed into the blast furnace and heated. The coke reduces the iron oxide in the ore to metallic iron, and the molten mass separates into slag and iron. Some of the iron from the blast furnace is cooled, and marketed as pig iron; the rest flows into basic oxygen furnaces, where it is converted into steel.
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The price of imported pig-iron increased, from £4 10s per ton in 1870 to £9 per ton in 1873 [4] greatly advantaging locally manufactured iron. However, this high price did not last long, as iron-making capacity increased and pig-iron was once again imported cheaply as ballast in sailing ships returning from England to Australia. By 1876 ...