Published on 11 Jul 2023 on Insider Monkey via Yahoo Finance
Top 20 Steel Companies In World
This in-depth article will shed light on the top steel companies in the world and the countries they are headquartered in. We'll also discuss which sector consumes the most steel and what are the projections for the metal's usage in the future. If you want to skip the details, read Top 8 Steel Companies In World.
11 out of the top 20 steel companies in the world are from China, showing the country's monopoly in the global steel sector. Other major steel companies are from Luxembourg, Japan, South Korea, India, and the United States.
The biggest Chinese steel producing companies are China Baowu Group, Ansteel Group, and Shagang Group, among others. Aside from the top companies in China, ArcelorMittal S.A. (NYSE:MT) is the largest steel producing company in Europe (and the 2nd largest worldwide). In 2022 alone, ArcelorMittal S.A. (NYSE:MT) had a steel tonnage production of over 68 million metric tons, slightly down from the company's yield of 79.26 million metric tons in 2021. Owing to its production mills spread in Europe, Brazil, and Mexico, the company's revenue of crude steel reached $79.8 billion in 2022.