The World's Biggest Steel Producing Companies in 2017
Total crude steel production in 2017 exceeded 1.689 billion metric tonnes, up 3.67 percent from 2016. That is an increase in annual production of 62 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 - 97.03 MMT
ArcelorMittal S.A.(BME) was the world’s largest steel producer in 2017, accounting for more than 6 percent of global crude steel production. Headquartered in Luxembourg, ArcelorMittal has operations in over 60 countries and annual gross revenues in excess of US $68 billion in 2017.
China Baowu Steel Group - 65.39 MMT
The largest Chinese producer on this list, China Baoqu 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 - 47.36 MMT
Nippon Steel & Sumimoto Metal (formerly Nippon Steel Company before a high-profile 2012 merger) is Japan's largest steel manufacturer, producing roughly 48 million metric tons of crude steel in 2017. 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 - 45.56 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 2017, 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."
POSCO - 42.19 MMT
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 2017, POSCO posted revenues of $53.6 billion, an increase of 14.3 percent over 2016.
Shagang Group - 38.35 MMT
Founded in 1975, Shagang Group controls assets worth of $26 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 $32.56 billion in 2017, with an increase in profits of 201 percent from the year prior.
Ansteel - 35.76 MMT
Angang Steel Co. Ltd. (Ansteel) is the second-largest Chinese state-owned steel producer. Founded in 1997 and headquartered in Anshan, in northeastern China, the company had operating revenues of $26.21 billion in 2017. Although impressive, Ansteel saw a harsh drop in profits, down $1.297 billion that same year.
JFE Holdings - 30.15 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 steels to less conventional products like iron powders.
Shougang Group - 27.63 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, which probably did not like the -13.5 percent loss in revenues experienced in 2017. Despite the revenue drop, the group still turned a profit of $3.3 billion, employing over 139,000 people.
Tata Steel - 25.11 MMT
Tata Steel (formerly Tata Iron and Steel Company Limited) is a subsidiary of the Tata Group. Established in 1907, Tata Steel had a great 2017 with revenues up 30 percent. With operations in India, the company employs around 75,000 staff members across five continents. As of summer 2018, Tata Steel is the largest steel producer in India.