5 Largest Steel Producing Countries in the World

In this article we are going to list the 5 largest steel producing countries in the world. For a detailed coverage of this topic and a more comprehensive list please take a look at the 15 largest steel producing countries in the world.

5. Russia

Total crude steel production in 2021 (in millions of tonnes): 75.6

Total crude steel production in 2020 (in millions of tonnes): 71.6

According to S&P Global, Russia has taken control of the Black Sea export market which is why prices in the region will mostly denote the Russian market. Russia’s steel production from January to November 2022 decreased 7% from 2021 as producers have decreased their output because of sanctions resulting in a loss in export markets. Currently, Russia is eyeing Asian markets as customers considering most Western companies have cut ties with the nation.