Steel is a generic name for a group of ferrous metals which due to their abundance durability versatility and low cost are most useful metallic material known to mankind. Thermo Mechanical Treatment (TMT) process for reinforcement bars is opening up new vistas in composite RCC, the re-enforcing steel is the costliest constituent (30 To 40% Per Cu. M. of concrete). This cost can be substantially reduced by using higher grades of steel re-enforcing bars. The higher yield strength of re-bars lowers the steel requirement, which results in reduced cost of construction. In India, high strength re-bars of yield strength up to 500 N/sq. mm. are produced either by cold twisting or micro-alloying or a combination of both which adds considerably to the cost of the re-enforcement bars. Thermo Mechanical Treatment (TMT) process for reinforcement bars is opening up new vistas in composite RCC, the re-enforcing steel is the costliest constituent (30 To 40% Per Cu. M. of concrete). This cost can be substantially reduced by using higher grades of steel re-enforcing bars. The higher yield strength of re-bars lowers the steel requirement, which results in reduced cost of construction. In India, high strength re-bars of yield strength up to 500 N/sq. mm. are produced either by cold twisting or micro-alloying or a combination of both which adds considerably to the cost of the re-enforcement bars. Hot working is the initial step in the mechanical working of most metals and alloys. Hot working combines the working and annealing processes by deforming metal above the recrystallisation temperature at which new grains are formed. Since most metals and alloys have relatively high recrystallisation temperatures, they must be worked at high temperatures. The principal methods of hot working are Rolling, Forging, Piercing, Drawing, Spinning, Extruding. Uses and Applications TMT bars find wide applications in different spheres as under; General purpose concrete re-enforcement structures, Bridges, Flyovers, Dams, High rise buildings, Industrial structures, Concrete roads, Underground structures Market Survey Global steel production has now crossed the 1 billion ton mark due to an upturn in steel demand during the last few years on the back of recovery in the global economy. The recovery had largely been led by increased demand for steel in China. There has also been partial recovery in key sectors such as housing, construction and automobiles in the USA and Europe. Present downturn due to global financial crises economy is in recession. Another important development in the global steel market in the last few years has been the emergence of steel intensive technologies in various user industries leading to increased usage of steel. The consumption is showing a shift from long products to flat products and special quality steels. Global steel trade has now increased to around 350 MT. The industry though continues to be fragmented with top 5 players accounting for less than 20% of the total industry capacity. Global steel manufacturers are increasingly realizing the need to have alliances and consolidation activity has picked up all over the world during the last 2-3 years. Today, Arcelor (Europe) is the largest producer of steel in the world followed by LNM-Ispat Group, Nippon Steel, JEE Holdings, Posco and Shanghai. Not in the standing the present downturn due to global financial crises, the industry is expected to bounce back during the next few years. The Indian iron and steel industry has come to occupy a dominant position in the socio-economic development of the country and it is certainly a matter of pride that India is the 7th largest crude steel-producing nation in the world. Steel production in India got a momentum with the announcement of the Industrial Policy Resolution of 1956 when three SAIL plants were set up in the public sector in the late 1950s and the fourth in early 1970. These plants along with IISCO (now, a part of SAIL), VISL and TISCO (now Tata Steel Ltd) were the only integrated steel producers till the eighties. Vizag Steel plant/RINL came into production in the early nineties. The steel industry in India has always been on the ascent, owing to the abundant availability of raw materials like iron ore, limestone and coal, besides relatively cheap labour, which is a major cost advantage. It is noteworthy to mention that India is the sixth largest producer of iron ore and the tenth largest producer of crude steel in the world. Steel is a core sector industry and the demand for steel affects the economy of the country.