Posted on 11 Jun 2024
China Baowu Steel Group (Baowu) maintained its top position in the global steel industry in 2023 in terms of crude steel output volume, according to the latest World Steel in Figures 2024 released by the World Steel Association (WSA) on Thursday.
The Shanghai-headquartered steel conglomerate saw its crude steel output reach 130.77 million tonnes during 2023, slightly lower than the 131.84 million tonnes it churned out in the prior year, the WSA data showed.
Luxembourg-based ArcelorMittal continued to rank second globally last year, with crude steel output at 68.52 million tonnes, 47.6% lower than Baowu's, while China's Ansteel Group (Ansteel) claimed third place globally and positioned itself as the second-largest steelmaker across China, according to WSA. The steel giant located in Northeast China's Liaoning produced 55.89 million tonnes in 2023.
Besides Baowu and Ansteel, four other Chinese steel producers ranked within the world's top ten steel-producing companies in 2023: HBIS Group (HBIS), Shagang Group (Shagang), Jianlong Group and Shougang Group, according to the release.
Notably, HBIS surpassed the No.5 steelmaker in 2022, Shagang, Mysteel Global observed. Its crude steel production in 2023 totalled 41.34 million tonnes compared to Shagang's 40.54 million tonnes.
World Steel in Figures 2024 also showed global apparent finished steel use amounted to 17.63 million tonnes in 2023, while crude steel output stood at 18.92 million tonnes last year. China accounted for 50.8% and 53.9% respectively of both totals.
The world's top 10 steelmakers | ||||
Ranking | 2023 | 2022 | ||
Company | Crude steel output | Company | Crude steel output | |
1 | China Baowu Group (1) | 130.77 | China Baowu Group | 131.84 |
2 | ArcelorMittal (2) | 68.52 | ArcelorMittal | 68.89 |
3 | Ansteel Group (3) | 55.89 | Ansteel Group | 55.65 |
4 | Nippon Steel Corporation (4) | 43.66 | Nippon Steel Corporation | 44.37 |
5 | HBIS Group | 41.34 | Shagang Group | 41.45 |
6 | Shagang Group | 40.54 | HBIS Group | 41.00 |
7 | POSCO Holdings | 38.44 | POSCO Holdings | 38.64 |
8 | Jianlong Group (5) | 36.99 | Jianlong Group | 36.56 |
9 | Shougang Group | 33.58 | Shougang Group | 33.82 |
10 | Tata Steel Group | 29.50 | Tata Steel Group | 30.18 |
Source: WSA
Notes:
1. Including Xinyu Steel tonnage since 2022. Excluding Kunming Steel tonnage since 2023.
2. Includes 60% AM/NS India (former Essar Steel)
3. Including Benxi Steel tonnage since 2021
4. Includes NIPPON STEEL Stainless Steel Corporation, Sanyo Special Steel and Ovako, 40% AM/NS India and 31.4% USIMINAS
5. Including Eastern Steel tonnage since 2020
Source:Mysteel Global
