Economic and Qualitative Determinants of the World Steel Production

The aim of this paper is to highlight the influence of economic and qualitative factors on steel production globally, as well in the EU, US, and China, using a dataset corresponding to the period 2000-2015. The research methods used are the study of specialist literature, problematisation, modelling, and simulation using Statistical Package for the Social Sciences (SPSS) software. The main conclusion of this paper is that, on long term, the steel production is largely influenced by the rate of real economic growth and by car production, even if in the short term the correlation is not obvious. Likewise, qualitative factors affect the steel industry in the context of current regulations on reducing carbon emissions and ensuring sustainable development. An additional aim of the present study is to define entropy in the sustainable development of steel production, as well as illustrate some of its properties and the quality management modelling of the research process in steel production.