The steel industry is one of the most important global industries, responsible for a large section of the global economy. However, who are the giants behind this industry? In the following article we are going to unveil the top ten companies that are the largest producers of steel in the world.
The heart of ArcorMittal is situated in Avenue de la Liberte in the middle of Luxembourg. This international company formed as the result of a merger in 2006 between steel giants Arcelor and Mittal steel. This company has over 232,000 employees and is responsible for the production of roughly 10% of steel worldwide.
ArcelorMittal is currently operating in more than 60 countries across the globe. Some of these countries include those in Europe, America, Kazakhstan, Ukraine and South Africa.
ArcelorMittal provides 47% of all European steel. That staggering amount is only rivalled by it’s contribution to the American market. In America, ArcelorMittal produces 35% of all crude steel.
2. Nippon Steel & Sumitomo Metal Corporation (NSSMC)
Nippon Steel & Sumitomo Metal Corporation, or NSSMC for short, came about from the result of merger between Nippon Steel and Sumitomo metal in 2012. The Nippon Steel & Sumitomo Metal Corporation is the second largest steel provider in the world. It has over 83,000 employees across 15 countries.
The crude steel produced by Nippon Steel & Sumitomo Metal Corporation is used in construction, automotive production, civil engineering projects, as well as general goods and products.
3. Hebei Iron and Steel Group
The Hebei Iron and Steel Group Company Limited came about in 2008 and is a state owned business, centrally located in Shijiazhang (石家庄) in the People’s Republic of China’s Hebei province.
Every year the Hebei Iron and Steel Group Company Limited produces a staggering 30 million tonnes of steel, making it China’s premier steel company in terms of scale of production.
Some of the steel that the Hebei Iron and Steel Group Company Limited produces is hot-rolled steel, hot-rolled plate, cold rolled plate, galvanised plate and other in-demand steel products.
The Boasteel group was founded in 1978 in Pudong, Shanghai. It’s 130,401 employees are spread out over 40 countries and produce a diverse range of stainless and carbon steel products.
Baosteel provides for a variety of different industries. According their web-page some of the industries they provide for include: automotive production, petrochemical companies, transport, metalworking, energy, manufacturing, astronautics and delicate electronic equipment.
5. Wuhan Iron and Steel Group
Wuhan Iron and Steel Group Corporation is located in the busy province of Hubei in the People’s Republic of China. This company may be one of the oldest on the list. It was established in 1958 and since then has been producing high quality silicon, cold-rolled steel, hot-rolled steel, plate steel and wire rolled products.
Pohang Iron and Steel Company is possibly better known by the name POSCO. The company first came about in 1968 and is currently one of the world’s most successful and prodigious steel producers. Phang is located in the heart of South Korea and produces over 33.7 million tonnes every year. Whether you are after flat steel, plate steel or hot or cold rolled steel, Pohang iron and Steel Company will be able to provide it.
7. Jiangsu Shagang
China is the largest producer of crude steel in the world, and no wonder when it has companies like Jiangsu Shagang which produces over 18 million tonnes of steel a year. This company has been around since 1975 and continues to this day to produce a variety of flat, plate and rolled steel products that are shipped across China and the globe.
8. BlueScope Steel
BlueScope is the oldest of all the steel companies on this list, and has played a central part of the Australian economy for the past hundred years. Today BlueScope continues to be one of the most innovative and experienced steel producers in the world.
In addition to their success in their home country of Australia, recent dead with Nippon Steel in Asia and Tata Steel in India have opened them up to the world.
BlueScope has over 17,000 employees across over 15 countries and made a reported 9.202 billion AUD in 2016 alone. Their subsidiaries include Orrcon Steel, BlueScope Steel Australia, New Zealand Steel, Butler Manufacturing and Tata BlueScope to name a few.