China Still World’s Largest Steel Producer
It is probably little surprise to those in the steel industry that once again, China tops the league table for the country producing the most steel.
The latest figures analysed by BS Fixings show China tops the steel-producing table with a monthly production of 90.2 (MT), way ahead of India in second place with a monthly output of 10 million tonnes. Out of the top 10 steel-producing countries, China accounts for just short of 65% of all the steel produced by these nations.
The top 10 steel-producing countries (figures are in million tonnes (MT)) are China 90.2, India 10.0, Japan 7.9, United States 6.9, Russia 6.7, South Korea 6.0, Turkey 3.4, Germany 3.3, Brazil 3.0 and finally Iran at 2.6 million tonnes.
8 out of the top 10 steel-producing countries have increased output compared to 2020, although it is noticeable that the biggest drop in output was experienced by the United States of America whose output dropped by 9.9% on the previous year. The biggest growth was seen by Turkey who posted a growth in output of 12.7% on the previous 12 months, although in terms of global market share it still only accounts for slightly over 2%.
These figures relate to the latest ones compiled and published in January 2021 by The World Steel Association (Worldsteel), who analyse production figures for the world’s leading 64 nations that make their steel production data available.