Steel manufacturers, no matter which region they operate in, are desperately trying to get orders in an environment of low demand. In order to reduce stock sizes, they had to cut production and operate at below full capacity. Not only that but also they lost an important employee base because they had to carry out layoffs in an attempt to hold down losses they were incurring. Analysts believe that credit crunch and economic meltdown throughout the world shell undercut the changing activity in major markets including construction, automotive and industrial machinery sectors. Steel industry of United States of America has particularly suffered a huge blow from market slumps. After a continuous high activity of construction in the country, a number of new buildings being built has reduced greatly. The industry, which was running high due to lot of purchase orders from India and China has now fell a great fall. Prices are tumbling a lot. Analysts predicted that no revenue aspect eclipsed market outlook and production is not likely to rebound, to marvelous levels seen in early 2008, until next two years. Dropping demand brought prices down by steel purchase activity is quite low. Steel scrap used by steel industry state more than US$90 per gross ton after showing trades around US$550 per gross ton.