This Bessemer lecture is a unique occasion for the author to look at some of the issues to which he has been close professionally, with a perspective spanning over three centuries, something that one does not so often have the leisure to do in the Steel Industry. The author speaks first briefly about Sir Henry Bessemer and the dynamic 19th century of which he was such an active player. Then the author skips over 100 years to 1970 and recollects some of the endeavours and achievements of the Steel Industry of the late 20th century, which he witnessed at first hand. There were deep changes of course, but also intriguing continuity with Bessemer's time. Finally, as Technological Forecasting or rather Prospective, the author projects what kind of path the Steel Industry might tread in the future and why. This is done from the viewpoint of an engineer and based on the idea that the core of the Steel Technology is the archetype of a Cumulative Technology rather than a mature, saturated and somewhat passé activity.