Steel is one of the most important structural material in the world. It is used in virtually all sectors, from automotive, construction, mechanical engineering and shipbuilding to household appliances, computers and consumer electronics. Infrastructure projects such as road, bridge or rail construction would be impossible without steel. When an artefact does not include steel as a major component – such as smart phones, computers or aircraft, it is made of parts which were produced with machines made of steel. In other words, steel is essential for the high standard of living in the developed world and for the growth of emerging economies.