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Top 20 Steel Companies In World
Time : 2024-01-15
Top 20 Steel Companies In World

1 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. 

The biggest steel producing company in the US is Nucor Corporation (NYSE:NUE), based in Charlotte. Nucor Corporation (NYSE:NUE) is also the biggest scrap recycler in North America and the main mini-mill steelmaker in the country. In 2022, steel tonnage of Nucor Corporation (NYSE:NUE) exceeded 20 million metric tons, and the company has announced a new $100 million electric arc furnace melt shop at its Arizona bar mill that will have to produce over 0.6 million metric tons annually. 

In Asia, South Korea's POSCO Holdings Inc (NYSE:PKX) is at the top, along with Japan's Nippon Steel Corporation. POSCO Holdings Inc (NYSE:PKX) has a market cap of $23.363 billion as of current and produces a generous amount of the metal each year. In 2021, POSCO Holdings Inc (NYSE:PKX) was ranked 6th in the world based on its production volume but has now been de-ranked by one position owing to its reduced production in 2022. 

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