The local harbour, where barges bring the scrap-iron the factories will consume, has expanded from seven employees to more than 200 since 1987.

ECONOMIST: From cotton to steel

Mittal figured he could cut his raw-material costs in half by buying direct-reduced iron rather than scrap.

FORBES: Carnegie would be jealous

An even lower-cost group of domestic producers are the mini-mill operators, such as Nucor, which make steel from scrap metal instead of iron ore.

ECONOMIST: Steel: Rust never sleeps | The