Top-10 Steel Producing Countries in the World 2024

Steel, essential for modern infrastructure, fuels industries, construction, and manufacturing globally. In 2024, the top 10 steel-producing nations drive the industry’s landscape. Led by China, India, and Japan, they showcase significant contributions. The United States, Russia, and South Korea hold strong positions, while Germany, Turkey, and Brazil bolster production capacities. Together, these countries shape the steel industry, steering economic growth and infrastructure development worldwide.

Steel Producing Countries in the World 2024

The top 10 steel-producing countries in 2024 showcase a dynamic landscape of global industrial prowess. China leads the pack, followed closely by India and Japan, demonstrating their significant contributions to the steel market. The United States, Russia, and South Korea maintain strong positions, while Germany, Turkey, and Brazil bolster the industry with their robust production capacities. These nations collectively shape the steel industry’s trajectory, driving economic growth and infrastructure development worldwide.

Largest Steel Producer in the World 2024

China maintains its status as the world’s largest steel producer, contributing 52.9% to global production in 2022. With a staggering output of 1.013 kt of crude steel in 2021, surpassing the combined production of India, Japan, and the United States, China’s steel industry burgeons, primarily driven by construction sector demand. However, its dominance has sparked concerns globally, as China’s steel exports, being the largest worldwide, have exerted downward pressure on global steel prices, leading to accusations of dumping from other steel-producing nations.

Top-10 Steel Producing Countries in the World 2024

China with the steel production of 1,032,790 kt, stands as the largest steel producer in the world, followed by India, Japan, USA and Russia.

Here is the list of top-10 steel producing countries in the world 2024:

Largest Steel Producer in the World – China

Steel production: 1,032,790 kt

China, the world’s largest steel producer, held 52.9% of global production in 2022. With 1.013 kt of crude steel in 2021, surpassing India, Japan, and the United States combined, its growth is fueled by construction demand. China’s dominance has made it the top steel exporter, impacting global prices and drawing accusations of dumping from other steel-producing nations.

Second Largest Country in terms of Steel Production – India

Steel production: 118,201 kt

India, the world’s second-largest crude steel producer, recorded 118,201 kt in 2023. Its steel industry has surged over the past decade, expanding by 75% since 2008. Factors driving this growth include increased investment in infrastructure, a thriving automobile sector, and a focus on defense and engineering. Notably, Odisha leads in steel production, boasting an 18 million tons annual capacity, while Jharkhand’s Jamshedpur houses India’s largest steel plant, Tata Steel, producing over 10 million tons yearly.

World’s Third Largest Steel Producing Country – Japan

Steel Production: 96,334.5 kt

Japan, ranking third in global steel production, manufactured approximately 96,334.5 kt of crude steel in 2021. Its steel sector relies heavily on blast furnaces, constituting 76% of total output. With a rich history dating back to the 16th century, Japan’s steel industry burgeoned since the establishment of its first modern mill in 1870. Playing a pivotal role in economic development, it employs over 300,000 individuals and yields substantial annual revenue.