The POSCO Research Institute (POSRI) launched the bi-annual journal Asian Steel Watch earlier this year, with the aim of providing deeper analysis and understanding of the role of steel in the world.
With a focus on Asia, the English-language journal investigates the continually changing trends in the steel industry in-depth, along with a broader look at Asia’s macroeconomic situation and larger trends in steel consumption.
A New Wave Transforms Industry
The focus of the latest Asian Steel Watch is the “Fourth Wave of Manufacturing” – which refers to the integration of industry with the latest in IT technology, including the Internet of Things (IoT), artificial intelligence, the cloud and big data. As in many fields, the steel industry is being transformed by the revolution in information technology, bringing new challenges and new opportunities.
This special section includes four articles in Industry 4.0:
The Fourth Industrial Revolution: The Winds of Change Are Blowing in the Steel Industry: Summarizes how the latest changed in technology are changing the steel industry, from production to distribution.
Accelerating Digital Transformation with Smart Factory to Unlock New Value: Case of POSCO: When it comes to how Industry 4.0 is changing POSCO, the emphasis is on “smarter.” From sensors to analytics to controls, smart technology is reducing costs and improving output.
China Is Shifting to the “Smart Factory of the World”: China became the world’s largest manufacturing nation in 2010, but today slowing growth is forcing the Middle Kingdom to look for new paths to prosperity. Plans like “Made in China 2025” and “Internet Plus” represent China’s attempts at using the latest technological advances to grow for a new era.
The Rise, Prospects, and Impact of China’s Steel E-Commerce: With so much fierce competition in the Chinese steel market, there is much hope that e-commerce can create new possibilities and efficiencies for manufacturers, as well as distributors and investors.
Additional Topics in This Issue
In addition to the Fourth Wave of Manufacturing, the latest issue of Asian Steel Watch also explores a range of compelling topics affecting the steel industry today.
Ask the Guru: Roads Ahead for the Steel Industry: A fascinating interview with Edwin Basson, director general of worldsteel. Basson talks about the causes of sluggish demand in the steel industry predicted for 2017, China’s peak steel, solutions to overcapacity, the future of the steel industry in Asia, and the influence of the Fourth Industrial Revolution on the steel industry.
Global Competitiveness Through Hybridization of FINEX and CEM Processes: A special report by Dong Jin Min, professor in the Department of Materials Science and Engineering at Yonsei University in Korea, about alternative midi-mill ironmaking methods that use hybridization.
The Demographic Cliff: How It Will Impact Asia’s Steel Demand: As societies age, the demand for many key products decline, such as homes and automobiles, even as the demand for services increases. What lessons from Europe and other aging societies can be applied to countries like Korea, which are currently experiencing aging?
Restructuring of the Chinese Steel Industry: Retrospects and Prospects: With China’s steel production perhaps having peaked, this article proposes six directions for the future of the steel industry in China.
Myanmar, the Last Frontier in the ASEAN, Will See High Growth of Its Steel Industry: As Myanmar opens after 54 years of military rule, it is growing and transforming rapidly. With little capacity to manufacture its own steel, Myanmar should see a major rise in steel imports as it grows.
Market Trends and Analysis: Two articles explore the bigger trends affecting the steel industry. The first examines the last 100 years as a “supercycle” for the steel industry. And the second article takes an in-depth look at the latest statistics of the steel industry in Northeast Asia, analyzing how it is changing in Korea, China and Japan.
Over the next few weeks, we will be posting a series of stories about the articles in the latest edition of Asian Steel Watch. Be sure to check back here regularly to get an in-depth look at how the Fourth Wave of Manufacturing is transforming the world of steel, and developments around the world are affecting the Asian steel industry.