"Steel Magnates" is a term often used to describe influential and wealthy individuals in the steel industry. These magnates typically own or manage large steel manufacturing companies and play a significant role in shaping the market and economy. Their decisions can impact everything from production levels to pricing and employment in the sector. The steel industry has a rich history, with notable figures such as Andrew Carnegie and Charles M. Schwab being prominent steel magnates in the late 19th and early 20th centuries. Their innovations and business strategies helped establish the United States as a leading steel producer, influencing global trade and industrial growth.