This chapter focuses on the evolution of steel production from 1870 to 1900. It begins with a review of the life of the inventor of the air-boiling process, William Kelly. This is followed by a discussion on how Bessemer's air-blowing process entered the steel production industry and the development of the Kelly-Bessemer process by Alexander Holley. The chapter then discusses how Andrew Carnegie lowered the cost to produce steel, how he entered the iron and steelmaking industry, and how Captain Billy Jones joined Carnegie to expand Carnegie steel. The chapter further provides information on the great strike of 1892 at Homestead and the rapid growth in steel markets. It ends with a discussion about the factors that led Carnegie to sell his steel empire.