Top 5 steel producers of the world

The crude steel production is rising every day, and new increased levels of production are being set for the future. The top 10 largest steel producers account for almost 25% of the world population.

Here are the five biggest steel producers in the world.

  1. ArcelorMittal SA

ArcelorMittal is the largest producer of steel in the world. As of 2014, it had an annual production of 98.1 million tons of crude steel. Headquartered in Boulevard d’Avranches, Luxembourg, ArcelorMittal was formed by a takeover of Arcelor by Mittal in 2006.

Before this takeover, a merger had been planned between Arcelor and Severstal, but they could not manage sufficient approval required from the shareholders. Following this, Mittal Steel launched a hostile takeover bid. The firm created thereof, ArcelorMittal produced approximately 10% of the world’s steel and, and was by far the world’s largest steel company.

It operates in more than 60 countries and has a gross revenue of more than 75 billion US dollars.Lakshmi Mittal owns majority shares in the company. In 2017, it was ranked 123rdin the Fortune Global 500.

2.      Baosteel

Baosteel or Baosteel Group Corporation is Chinese state-owned enterprise. This was formed by bringing together many companies, namely, Baoshan Iron & Steel Co. Ltd., Guangdong Iron & Steel Group Co. Ltd., Xinjiang Bayi Iron & Steel Co. Ltd., Ningbo Iron & Steel Co. Ltd. and much other steel processing, engineering and investment entities.

The company is majorly into the production of straight carbon steels, stainless steels, and special steels. The company was able to possess assets of RMB 432.1 billion by the end of 2010. They were also able to generate an annual operating revenue of RMB 273 billion.

  1. POSCO

Earlier known as Pohang Iron and Steel Company, POSCO was established in 1968 and was the world’s largest steel manufacturing company by market value in 2010. The company was ranked 146th in the Fortune global 500 list of world’s largest corporations. They have two integrated steel mills in South Korea. They also operate a joint venture with U.S. Steel in California.

In the year 2005, POSCO signed an MOA with the Government of Odisha, India. They planned to invest US$12 billion in constructing a plant with four blast furnaces, an electricity plant, housing, and an annual production capacity of 12 million tons of steel. The project started with an initial capacity of 3 million tonnes and is estimated to provide direct employment to 13,000 people and indirect employment to 35,000 others.

  1. Nippon Steel Corp.

The largest manufacturer of steel in Japan, Nippon Steel is the fourth largest steel manufacturer in the world with a production capacity of approximately 45 million metric tons. The company is now known as Nippon Steel & Sumitomo Metal Corporation after Nippon Steel merged with Sumitomo Metal in 2012.

The company has given employment to more than 50,000 people and is listed on the Tokyo Stock Exchange.

  1. JFE Holdings

Another big company from Japan. The parent company of JFE Steel Corp., JFE Holdings Inc. is one of the worlds largest integrated steel producers. JFE Steel was formed by the merger of NKK and Kawasaki Steel Corp in 2002. They reported sales of 2,747.4 billion yen in 2010 and is listed on the Tokyo Stock Exchange.

No Comments

Leave a Comment