China is the largest steel producer in the world. Large-scale production in China helps make its steel cheaper and more competitive in the global market. Many countries have tried to impose import taxes on steel imports from China in an attempt to encourage the use of locally manufactured steel. One of the most well-known steel manufacturers in China: Baosteel Group.
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Japan produces around 100 million metric tons of steel annually. NSSMC is the largest steel producer in Japan, producing around forty-nine metric tons of steel per year. There is also GFE Holdings, which started its business in 2002.
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India ranks third among steel producing countries as it produces about ninety million metric tons annually. The largest importers of Indian steels are Nepal, Bangladesh and Belgium. Some of the most well-known steel companies in India are Tata Steel and JSW Steel. These companies are known for their high-quality steel.
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United States produces about eighty million metric tons of steel annually, which gives it the fourth position among the steel producing countries. Steel production in the United States began in 1629 when the first factory in Massachusetts was established. United States has over a hundred steel production manufactories across the country. The most famous American steel companies: U.S. Steel and Nucor Steel.
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Russia produces about sixty-five million metric tons of steel annually. Russia exports mainly to Turkey, Taiwan and Mexico. The largest steel producers in Russia: Evraz Group and Novolipetsk Steel.