Who rules the steel industry: the top 50 steel producers

According to the latest data published by the World Steel Association, the list of the world's top steelmakers has seen some minor reshuffling in 2023 compared to 2022.

China Baowu Group keeps the throne for this year as the world’s largest steel producer, immediately followed by ArcelorMittal; Ansteel Group also maintained its position on the podium at third place.

The only changes in the top 10 are the Chinese HBIS Group and Shagang Group swapping places at number 5 and 6, with the latter seeing its production fall by nearly a million tons per year. The biggest changes in the top 50 rankings are Tsingshan Holding, which jumped from 32nd to 23rd place, and Russian-based EVRAZ, which dropped 10 spots (from 34th to 44th place).

Generally speaking, the Asian continent still dominates the ranking, particularly China, with 27 steel producers out of 50. To find an EU-based company – other than ArcelorMittal – we have to scroll down to the 41st position under ThyssenKrupp. The first American steel mill is Nucor Corporation, in the 15th position (previously 16th). The biggest Indian steel mill is Tata Steel Group at 10th place.

In general, we can observe that while some companies have experienced a decline in output from 2022 to 2023, such as EVRAZ and Shandong Steel Group (dropping from position No. 11 to No. 17), there are also businesses that have experienced a surge, including the already mentioned Tsingshan Holding and JSW Steel Limited, which increased production from 23.38 million tonnes to 26.15 million tonnes.