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In 2023, total world crude steel production was nearly 1.9 billion tons . The biggest steel producing country is currently China, which accounted for 54% of world steel production in 2023. [1] In 2020, despite the COVID-19 pandemic, China became the first country to produce over one billion tons of steel. [2]
The list ranks steelmakers by volume of steel production in millions of tons over time and includes all steelmakers with production over 10 million in 2021. The World Steel Association features a list from its members every year. Due to mergers, year-to-year figures for some producers are not comparable. Not all steel is the same.
China produced over 1 billion tonnes of crude steel in 2022, 52.9% of the world's total production, [6] and up from 123 million tonnes (121,000,000 long tons; 136,000,000 short tons) of steel in 1999.
Bethlehem Steel in Bethlehem, Pennsylvania (closed in 2003) was one of the world's largest manufacturers of steel. Production of crude steel has risen at an astounding rate, reaching 1.691 billion tonnes by 2017. During the 20th century, the consumption of steel increased at an average annual rate of 3.3%.
World steel production slipped 9.9% in November, dragged down by a sharp decline in output in China on Beijing's actions to curb production to combat pollution.
In 2015, Baowu was the second largest steel producer in the world measured by crude steel output, with an annual output of around 35 million tons (China's total steel production in 2015 was 803.8 million tons [5]), and employed 130,401 employees as of the end of 2012, had annual revenues of around $21.5 billion, and produces a mix of products. [6]
ArcelorMittal is the second largest steel producer in the world, with an annual crude steel production of 78 million metric tonnes as of 2022. [5] It is ranked 197th in the 2022 Fortune Global 500 ranking of the world's largest corporations. It employs around 154,000 people [6] and its market capital is $20 billion. [7]
As per worldsteel, India's crude steel production in 2018 was at 106.5 million tonnes (MT), 4.9% increase from 101.5 MT in 2017, which means that India overtook Japan as the world's second largest steel production country. Japan produced 104.3 MT in year 2018, decrease of 0.3% compared to year 2017.