The United States became a major Industrial power in the late 19th century as the country grew in size and population.
Local demand for new cities, infrastructure, railroads made the United States into the world's largest steel producer.
Eventually, this new growth slowed down, as the country became developed and open trade with other countries meant it could import cheaper steel.
China is going through a similar path of growth, seeing rapid urbanization and growth of new cities and railroads. The local demand alone has turned China into the world's largest steel producer and a major exporter.
Eventually, we can expect this demand to gradually cool off and China loose this status as the world's largest producer of Steel.
As the country surges towards a more service-oriented economy, it might start importing cheap steel as well.
