The Top 15 Largest Steel Companies In The World

Manufacturers

From trains to kitchenware, and weapons to furniture, steel is involved in nearly every aspect of modern society. Just imagine not being able to use your fridge, drive your car, or take a plane to your next vacation or business destination.

In 2019 alone, steel companies provided roughly 1,869.9 million tonnes (Mt) of crude steel to governments, businesses, and other private industries all over the world. Even more striking, that number increases by around 3-5% per year.

Globally, there are several major players in the steel manufacturing business. These companies provide an unquestionably important service, so who are they?

To answer that, we’ve assembled a list of the 15 largest steel companies in the world, based on their volume of steel production in 2019.

Top 15 Largest Steel Companies Listed

ArcelorMittal

Headquarters: Luxembourg City, Luxembourg
Total Steel Production: 97.1 million tonnes

Despite being a newcomer to the steel industry, this 15-year-old Luxembourgish-Indian hybrid company has risen through the ranks to become the largest steel company in the world. With a massive $2.1 billion in profits throughout 2019, ArcelorMittal manages to beat out even their top Chinese competitors on multiple fronts.

Though ArcelorMittal’s headquarters is in Luxembourg, the company operates in over 60 countries and employs 232,000 people worldwide. Part of this company’s success and size can be attributed to the merger that formed it, as in 2006, the Luxembourg-based Arcelor and Indian-based Mittal Steel unified to create this colossal company.

Believe it or not, ArcelorMittal provides roughly 10% of the world’s steel.

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Baosteel America

Headquarters: Shanghai, China
Total Steel Production: 95.5 million tonnes

Maintaining its place as the largest steel company in China, the country that produces the most steel in the world, Baowu Steel Group employs roughly 177,000 employees and exports steel to at least 40 countries.

This company is centralized and maintained entirely by the Chinese Central Government, making their $2.1 billion in profits (2019) even more impressive.

Originally known as Baoshan Iron and Steel, today’s Baowu was founded in 1978. In 2016, the Chinese government decided to merge this steel group with a fellow, state-owned steel company known as Wuhan Iron and Steel Corporation.

Since then, the company has assumed a large and powerful position, with assets estimated to be worth $113.4 billion.

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Nippon Steel

Headquarters: Tokyo, Japan
Total Steel Production: 51.7 million tonnes

Formed by a 2012 merger between the old Nippon Steel and Sumitomo Metal, the current Nippon Steel Corporation is the largest steel company in Japan and the third largest steel company in the world. In 2019 alone, this company netted a considerable $2.3 billion in profits.

Nippon Steel operates in over 15 countries and employs approximately 105,796 people. The company’s business model regularly addresses environmental issues, including their 2005 plastics recycling plan and 2006 waste food to ethanol project.

In 2011, Nippon received the Fray International Sustainability Award in Mexico, for Eco-processes, Eco-products, and Eco-solutions.

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Hesteel Group

Headquarters: Shijiazhuang, Hebei, China
Total Steel Production: 46.6 million tonnes

Holding its place as the second-largest steel company in China, and the fourth largest in the world, Hesteel Group was founded only 13 years ago in 2008. Currently, the company has roughly 129,000 employees and maintains 14 subsidiaries. Some of these include Tangsteel Group, Hansteel Group, and Shijiazhuang Iron and Steel.

For being such a new company, Hesteel achieved an impressive revenue of $31.4 billion in 2019. Part of this success can be attributed to their government support. As with most major steel companies in China, the company is owned by the government. In this case, Hesteel is owned by the Government of Hebei Province.
POSCO

Headquarters: Pohang, South Korea
Total Steel Production: 43.1 million tonnes

POSCO is the first South Korean steel company on this list and makes the top five owning a substantial $47.4 billion in assets. Currently, the company’s two major locations are in Pohang and Gwangyang.

Originally founded in 1968, POSCO has spread its reach to operating facilities in the United States, India, Vietnam, Malaysia, Indonesia, China, Japan, Mexico, and Germany.

Worldwide, POSCO employs over 35,000 employees, and the company’s globalization efforts mean this number is growing significantly each year.
Jiangsu Shagang Group

Headquarters: Zhangjiagang, Jiangsu, China
Total Steel Production: 41.1 million tonnes

Founded in 1975, the Jiangsu Shagang Group is the largest privately owned and operated steel company in China. Shen Wenrong is the company’s Chairman, and Liu Jian is the President.

Shagang employs over 30,000, and mainly operates around the Yangtze River Delta, which provides effective water transportation for their products. In 2019 alone, the company made an estimated $717.6 million in profits.
Ansteel Group

Headquarters: Anshan, Liaoning, China
Total Steel Production: 39.2 million tonnes

Originally established 105 years ago in 1916, Ansteel Group is one of the oldest corporations on this list. As a State-owned enterprise, this company is mainly supported financially by and receives resources through the Chinese government.

Currently, Ansteel has approximately 126,909 employees, as well as an estimated $47.4 billion in total assets. The company’s headquarters is also located in the city of Anshan, making it the Northernmost Chinese company on this list.
Jianlong Steel

Headquarters: Tangshan, Hebei, China
Total Steel Production: 31.2 million tonnes

While Jianlong Steel is a fairly discreet privately-owned Chinese company, there is some information out there about it. This steel company was founded in 2000 and is a subsidiary of the Beijing Jianlong Group.

Currently, Jianlong is the largest steel company in Tangshan, with no signs of that title slipping away.
Tata Steel

Headquarters: Mumbai, Maharashtra, India
Total Steel Production: 30.2 million tonnes

Founded over 100 years ago in 1907, Tata Steel has remained relevant for a long time. In part because it’s a subsidiary of India’s Tata Group, one of the largest corporations in India. Today, Tata Steel has over 30,000 domestic employees and a significant $35 billion in estimated assets.

Overall, Tata Steel has a global influence, operating in the United Kingdom, Netherlands, and 24 other major countries. Worldwide, the company employs over 80,000 people.
Shougang Group

Headquarters: Beijing, China
Total Steel Production: 29.3 million tonnes

The Shougang Group is a State-owned Chinese steel company founded in 1919. Despite being number ten on this list, this company dominates almost a third of the Chinese market. Globally, Shougang also operates in the Marcona District of Peru and employs over 10,000 people.

Generally speaking, Shougang specializes in several aspects of building construction, including steel structure installation, industrial equipment inspection, and concrete-made product sales services. In 2019, the company made an estimated $168.7 million in profits.
Shandong Steel

Headquarters: Jinan, China
Total Steel Production: 27.6 million tonnes

Founded in 2008, Shandong Steel is a newer Chinese company that grew significantly when it restructured its assets and partially merged with Rizhao Iron and Steel in 2009.

Size-wise, Shandong is one of the smaller companies on this list, with no more than 1,000 employees. However, despite its size, this company still has a substantial $8.8 billion in total assets.
JFE Holdings

Headquarters: Tokyo, Japan
Total Steel Production: 27.4 million tonnes

JFE Holdings, Inc. is the second steel corporation on this list founded in Tokyo, Japan. Formed by a 2002 merger between NKK and Kawasaki Steel Corporation, JFE currently has around 1,600 employees and operates in the United States, Japan, India, China, Myanmar, Philippines, Thailand, and Vietnam.

Some of JFE’s most notable projects are their super-rapid charging station, which can charge a battery to 50% in as little as 15 minutes, and their Bicycle Tree, which is an automatic storage device capable of holding up to 6,000 bikes.

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Hunan Valin Steel

Headquarters: Changsha, Hunan, China
Total Steel Production: 24.3 million tonnes

Taking its place as the 8th and last Chinese company on this list, Hunan Valin Steel is a state-owned steel company founded in 1997. With almost 25,000 employees, this company primarily specializes in the smelting, manufacture, and sale of iron and steel products.

Interestingly, ArcelorMittal once had a 10% stake in the company, however, the stake has since been transferred to the Chinese government.
Nucor

Headquarters: Charlotte, North Carolina, United States
Total Steel Production: 23.1 million tonnes

Earning its place as the largest steel company in the United States, and the 14th largest in the world, Nucor Corporation made an impressive $784.8 million in profits in 2019. This company has several global operations, from North and South America to Europe.

In the United States, Nucor is the largest scrap recycler in the country. The company operates 23 scrap-based steel production mills, and in 2019, recycled roughly 17.8 million tons of scrap. To do this, Nucor employs almost 27,000 employees.

However, Nucor is not immune to criticism. For example, in 2000 the company paid $98 million to settle with the U.S. Justice Department and the United States Environmental Protection Agency, as it needed to resolve allegations of emitting toxic chemicals into the air, water, and soil.

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Hyundai Steel

Headquarters: Incheon and Seoul, South Korea
Total Steel Production: 21.6 million tonnes

Founded in 1953, Hyundai Steel is the oldest steel company in South Korea. As the name would suggest, this company is a part of Hyundai Motor Group, which is one of the largest automotive companies in the world.

Today, Hyundai Steel has over 10,000 employees and operates six major factories. As of 2019, the company has an estimated revenue of $17 billion.

Manufacturers

Author

Jack Flynn

Jack Flynn is a writer for Zippia. In his professional career he’s written over 100 research papers, articles and blog posts. Some of his most popular published works include his writing about economic terms and research into job classifications. Jack received his BS from Hampshire College.

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