What led to the increase in steel consumption seen on the graph
Several factors could have led to the increase in steel consumption seen on the graph, including:
1. Economic growth and increased industrialization: As the economy grows and industrial production increases, there is a higher demand for steel in manufacturing, construction, and infrastructure projects.
2. Population growth: A growing population can lead to increased demand for steel in residential construction, transportation, and consumer goods.
3. Urbanization: The trend of urbanization, with more people moving to cities, can drive the demand for steel in infrastructure projects such as buildings, bridges, and transportation systems.
4. Government infrastructure projects: Public investments in infrastructure projects, such as roads, bridges, and public transportation, can also contribute to higher steel consumption.
5. Technological advancements: Advances in technology and manufacturing processes may have led to increased efficiency and cost-effectiveness in steel production, making it more widely used in various industries.
6. Globalization: Increased trade and interconnected supply chains may have contributed to the growth in steel consumption as countries import and export steel for various purposes.
It is important to consider these factors and others to understand the specific drivers behind the increase in steel consumption depicted on the graph.