Top 10 steel-producing companies
In this series, we’ll look at the top ten companies in the global steel industry. We’ll look at them based on several factors, including steel production, steel consumption, and steel imports. Let’s begin by looking at those top 10 companies.
Major steel producers
The graph above shows the top ten steel-producing countries based on 2016 tonnage according to data compiled by the World Steel Association. As you can see, ArcelorMittal (MT) was the world’s largest steel producer last year, with shipments of 95.5 million metric tons. The company has major operations in Europe, NAFTA (North American Free Trade Agreement), Brazil, and ACIS (Africa and Commonwealth of Independent States).
Notably, six of the top ten steel-producing companies are based in China. This is hardly surprising, given China’s dominance in the global steel markets (ACWI). Posco (PKX), which is based in South Korea, was the fifth-largest steel producer last year.
US steel producers
There are no US-based steel companies among the top ten steel producers. Nucor (NUE), which is the largest US steel producer, is ranked 12th among the global steel producers. U.S. Steel Corporation (X), which was once the largest global steelmaker, doesn’t even figure in the list of the top 20 steel-producing companies. Based on last year’s shipments, U.S. Steel Corporation is ranked 24th.
The decline in US steel producers’ global rankings is commensurate with the country’s position in the global steel industry. In the next part, let’s look at the top ten steel-producing countries to understand this further.