This chapter provides an exploration of the evolution and enduring significance of the Australian steel industry, with particular attention to its historical development, strategic importance, and geographic foundations. From its twentieth-century emergence as a cornerstone of industrialisation—centred around Newcastle, Port Kembla, and Whyalla—the industry is being shaped by critical locational decisions aimed at minimising transport costs and maximising access to raw materials and markets. Although the industry has declined in relative economic importance, it remains vital through its contributions to infrastructure, employment, exports, and national security. The legacy of past investments, government support, and path dependency continues to influence the structure and performance of the modern steel sector in Australia.