Features

World’s Biggest Steel Producers

A quick overview of the 10 largest producers of crude steel.

Updated on

January 3, 2022

10 firms account for 25% of the global crude steel production. PHOTO | FILE

Global steel production has recorded steady growth over the past few years as demand for the commodity rises due to mega infrastructure projects, especially in Asia.

According to the World Steel Association, total crude steel production topped 1.808 million metric tonnes in 2018, 4.3% above the 2017 figures, with the world’s 10 largest steel producers accounting for 25% of this production.

Here are the world’s biggest steel producers:

1. ArcelorMittal

Luxembourg-based ArcelorMittal S.A. topped the list of the world’s top steel producers in 2018, with an output of 96.42 MMT – equivalent to over 5% of global crude steel production.

ArcelorMittal, which operates in 60 countries, reported a net income of $5.07 billion in 2018.

2. China Baowu Group

China Baowu Steel Group, one of the largest Chinese steel producers, produced 67.43 MMT during the period under review – earning itself the second slot in the list of the world’s biggest steel producers.

In 2016, China Baowu, then a smaller state-owned producer, merged with Wuhan Iron and Steel Corporation – nearly doubling its output.

3. Nippon Steel Corporation

Formerly Nippon Steel Company before a 2012 merger, Nippon Steel & Sumimoto Metal is the largest steel producer in Japan. The Tokyo Stock Exchange-listed company, with more than 50,000 employees, produced 49.22 MMT in 2018.

4. HBIS Group

Chinese state-owned steel producer HBIS produced 46.80 MMT in 2018, earning itself the fourth slot in the list of the world’s biggest steel producers.

The company said its steel production arm employed 120,000 people during the period under review. In 2017, MIT named one of its factories “the cleanest steel plant in the world.”

5. Pohang Iron and Steel Company

Pohang Iron and Steel Company (POSCO) produced 42.86 MMT of steel products, mainly steel plates, hot-rolled steel, wire rods, electrical steel, stainless steel products, and cold-rolled steel.

POSCO operates two steel mills in South Korea and a partnership with U.S. Steel in California. The company posted revenues of $59.2 billion in 2018.

6. Shagang Group

Shagang Group, which was ranked 364th on the Forbes Global 500 list in 2017, produced 40.66 MMT in 2018. The company which was established in 1975 has over 30,000 staff and produces as much as iron and steel.

Shagang reported a net income of $36.4 billion in 2018, a 76% increase from the 2017 figures.

7. Ansteel Group

Angang Steel Co. Ltd. (Ansteel), the second biggest Chinese state-owned steel producer based in Anshan, northeastern China, produced 35.36 MMT in 2018. The company posted operating revenues of $32.6 billion in 2018.

8. JFE Holdings

JFE Holdings Inc., the parent of JFE Steel Corp., produced 29.15 MMT of steel in 2018. Ranked among the world’s largest integrated steel producers, the company was formed in 2002 after the merger of NKK and Kawasaki Steel Corp.

JFE Steel Corp produces steel sheets, stainless steel, as well as less conventional products such as iron powders.

The company posted revenues of $34.9 billion in 2018 and grew its profits to $1.5 billion, a 67% upsurge from 2017.

9. Jianlong Group

Jianlong Steel Holdings Co., a Chinese private steel enterprise, produced 27.88 MMT of steel in 2018 – joining the list of the top 10 biggest steel producers in the world for the first time.

The company reported operating revenues of $17.3 billion in 2018.

10. Shougang Group

Beijing-based Shougang Group closes this list having produced 27.34 MMT of steel in 2018. The company which employs over 139,000 workers is majority-owned by the government of Beijing. It recorded revenues of $9 million in 2018, a 35% increase from 2017.