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Steel trade structure and the balance of steelmaking technologies in non-OECD countries: the implications for catch-up path

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  • Naoki Sekiguchi

    (Tohoku University)

Abstract

The landscape of the steel industry has changed significantly since the start of the twenty-first century. The countries of the Organisation for Economic Co-operation and Development (OECD) have played an active role in the global steel industry. However, in the past decade, non-OECD countries have also caught up with trends. Non-OECD countries have developed from peripheral players to major centres of global steel production and trade, and they should continue to play a crucial role in the global steel market as a result of steady capacity additions. In addition to changes in the composition of the global steel market, there has been a gradual change in the structure of production technologies in the global steel industry. With the increasing importance of the electric arc furnace (EAF) route, does the blast furnace/basic oxygen furnace (BF/BOF) route still play an important role for non-OECD countries to catch-up with OECD countries? This study provides an in-depth analysis of non-OECD countries’ steel production and trade, and the results indicate that the balance of steelmaking technologies is associated with steel trade structure in non-OECD countries. The BF/BOF route is more likely to be significant for non-OECD countries to become net exporters of steel and diversify and/or to upgrade exports of steel products.

Suggested Citation

  • Naoki Sekiguchi, 2019. "Steel trade structure and the balance of steelmaking technologies in non-OECD countries: the implications for catch-up path," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 32(3), pages 257-285, November.
  • Handle: RePEc:spr:minecn:v:32:y:2019:i:3:d:10.1007_s13563-018-0163-x
    DOI: 10.1007/s13563-018-0163-x
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    More about this item

    Keywords

    OECD; Non-OECD; Steelmaking technologies; Catch-up; Export sophistication; Export diversification;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • L61 - Industrial Organization - - Industry Studies: Manufacturing - - - Metals and Metal Products; Cement; Glass; Ceramics
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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