The World's Biggest Steel Producing Companies for 2018
Total crude steel production in 2018 exceeded 1.808 million metric tonnes, up 4.3% from 2017. That is an increase in annual production of 79 million metric tonnes. The world's 10 largest steel producers accounted for approximately 25 percent of this production.
Companies and their yearly productions are listed below, taken directly from the World Steel Association. Their production numbers are indicated in millions of metric tonnes (MMT).
ArcelorMittal SA—96.42 MMT
ArcelorMittal S.A. (BME) was the world’s largest steel producer in 2018, accounting for more than 5% of global crude steel production. Headquartered in Luxembourg, ArcelorMittal has operations in over 60 countries and an annual net income of $5.07 billion in 2018.
China Baowu Steel Group—67.43 MMT
The largest Chinese producer on this list, China Baowu Steel Group produced almost 20 million more metric tonnes than the third-highest producer. A smaller producer initially, a merger with Wuhan Iron and Steel Corporation in 2016 nearly doubled the output for this state-owned production powerhouse.
NSSMC Group—49.22 MMT
Nippon Steel & Sumimoto Metal (formerly Nippon Steel Company before a high-profile 2012 merger) is Japan's largest steel manufacturer, producing over 49 million metric tons of crude steel in 2018. Nippon Steel employs over 50,000 staff and is traded on the Tokyo Stock Exchange.
In 2012, the newly formed company had almost 61,000 employees. Shortly before the merger, the steel giant won the Fray International Sustainability Award, for their foray into sustainable steel manufacturing processes.
HBIS Group—46.80 MMT
HBIS is another Chinese state-owned steel producer, but they are involved in businesses beyond steel production and into global marketing and technology R&D.
Their steel production arm employed over 120,000 people in 2018, and they boast on their website of producing over 200 steel products that serve as import substitutions. in 2017, MIT recognized one of their plants as being "the cleanest steel plant in the world."
Established in 1968, Pohang Iron and Steel Company (POSCO) operates two integrated steel mills in South Korea and a joint venture with U.S. Steel (USS-POSCO) in California.
Major steel products include hot rolled steel, steel plate, wire rod, cold-rolled steel, electrical steel, and stainless steel products. In 2018, POSCO posted revenues of $59.2 billion, an increase of 8.6% over 2017.
Shagang Group—40.66 MMT
Founded in 1975, Shagang Group controls assets worth $33 billion, and in 2017 was number 364 on the Forbes Global 500 list. According to their website, they employ over 30,000 staff members and produce almost as much iron as they do steel.
The group posted revenues of $36.4 billion in 2018, with an increase in profits of 76% from the year prior.
JFE Holdings—29.15 MMT
JFE Holdings Inc. (TYO) is the parent company of JFE Steel Corp., one of the world's largest integrated steel producers. Operating two major steelworks in Japan, JFE Steel was formed in 2002 as a result of the merging of NKK and Kawasaki Steel Corp.
The company is actively traded on the Tokyo Stock Exchange. They produce all manner of steel products, from steel sheets and stainless steel to less conventional products like iron powders.
JFE posted revenues of $34.9bn, and an increase in profits to $1.5bn, a 67% increase from 2017.
Shougang Group—27.34 MMT
Based in Beijing, Shougang Group was founded in 1919 and is still a top contender in the Chinese steel market, even operating an iron mine in Peru (the only iron mine in the country).
They are majority-owned by the Government of Beijing. The group experienced a 35.4% increase in revenues in 2018 and turned a $9 million profit.
Shougang Group is a large company, employing over 139,000 people.
Tata Steel—27.27 MMT
Tata Steel (formerly Tata Iron and Steel Company Limited) is a subsidiary of the Tata Group. Established in 1907, Tata Steel saw revenues of $20.4 billion in 2018.
With operations in India, the company employs around 75,000 staff members across five continents. Tata Steel is the largest steel producer in India.