Largest Steel Production, 1967~2017 Country Comparison;Biggest Steel Production Ranking

Biggest steel production country ranking ; Which country is largest steel producer? As an indicator of economy, here we compare the largest production of crude steel from 1967 to 2017 using World Steel statistics. You can also see the top 20 country ranking of biggest Crude Steel production. Crude Steel production has the critical role played in infrastructural and overall economy.

Steel is an alloy of iron and carbon, and sometimes other elements. Because of its high tensile strength and low cost, it is a major component used in buildings, infrastructure, tools, ships, trains, automobiles, machines, appliances, and weapons.

The steel industry is often considered an indicator of economic progress, because of the critical role played by steel in infrastructural and overall economic development. In 1980, there were more than 500,000 U.S. steelworkers. By 2000, the number of steelworkers fell to 224,000

The economic boom in China and India caused a massive increase in the demand for steel. Between 2000 and 2005, world steel demand increased by 6%. Since 2000, several Indian and Chinese steel firms have risen to prominence, such as Tata Steel (which bought Corus Group in 2007), Baosteel Group and Shagang Group. As of 2017, though, ArcelorMittal is the world's largest steel producer. In 2005, the British Geological Survey stated China was the top steel producer with about one-third of the world share; Japan, Russia, and the US followed respectively.

China has played an important part in the relocation of the international steel industry. China is now the world's largest steel consumer and one of the largest steel producers and is rapidly industrializing. This rapid industrialization creates a huge demand for steel. Strong growth in demand, together with China's improving comparative advantage in steel production, has provided a favourable environment for the growth of the Chinese steel industry.

In our video, Japan is second largest steel producing country in 2017.
In January 2019 , India has replaced Japan as world's second largest steel producing country, while China is the largest producer of crude steel accounting for more than 51 per cent of production, according to World Steel Association.

Others in the top 10 steel producing countries include the United States, at the 4th position as the country produced 86.7 MT of crude steel in 2018, South Korea (72.5 MT, 5th place), Russia (71.7 MT, 6th), Germany (42.4 MT, 7th), Turkey (37.3 MT, 8th), Brazil (34.7 MT, 9th) and Iran (25 MT, 10th).
Source:WorldSteel.org

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