In the years from 2001 to 2007, the world‘s steel industry experienced a previously unknown boom in steel production and use. This resulted in raw material supply shortages and steep increases in raw material prices, especially in the last four years. Analysts expected this growth to continue in 2008 and 2009. However, in the fourth quarter of 2008, the industry suffered the full impact of the crisis in the financial markets. Demand for steel collapsed. Steelmakers found themselves forced to adjust production, either by stopping individual facilities or by sharply cutting back productivity. Companies and plant operators faced new challenges. Especially the integrated mills — comprising cokemaking, sintering, blast furnace and converter operations — with their typically high capacity are less flexible in terms of cost and operating efficiency under such conditions than mini-mills based on electric arc furnaces.