What is backward integration in steel industry?

refers to vertical integration, that is, a company takes over certain stages upstream (Backward) or downstream(Forward) from its position in the supply chain. A steel manufacturing company that wants to integrate backwards would therefore buy the ore mine.

refers to vertical integration, that is, a company takes over certain stages upstream (Backward) or downstream(Forward) from its position in the supply chain. A steel manufacturing company that wants to integrate backwards would therefore buy the ore mine.