The World's Largest Steel Producing Countries
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The infographic below shows the largest crude steel-producing countries in the world for 2023, based on data published by the U.S. Geological Survey (USGS) in January 2024. Steel is a crucial material for the economy, used in various fields from construction and infrastructure to manufacturing and transportation.
Top Steel Producing Countries in 2023China
Production: 1 billion tonsShare: Over 50% of global productionIssues: The global steel industry faces significant overcapacity in China. The country's steel production consistently exceeds demand, causing price drops and impacting the profitability of steel producers worldwide.
Historically, China's real estate sector consumed more than 30% of the domestic steel production. However, a three-year real estate crisis has reduced steel demand. To address overcapacity, the Chinese government has mandated production cuts since 2021. This move also aims to reduce carbon emissions, contributing to Beijing's goal of achieving net-zero carbon emissions.
India
Production: 140 million tonsPosition: Second largest producerNotes: India's steel production continues to grow, driven by increasing domestic demand and infrastructure projects.Japan
Production: 87 million tonsPosition: Third largest producerNotes: Japan maintains a robust steel industry, focusing on high-quality steel production and technological advancements.
The infographic provides a visual representation of these production figures, highlighting China's dominant position in the global steel market and the significant gap between China and the next largest producers, India and Japan.
The infographic below shows the largest crude steel-producing countries in the world for 2023, based on data published by the U.S. Geological Survey (USGS) in January 2024. Steel is a crucial material for the economy, used in various fields from construction and infrastructure to manufacturing and transportation.
China
Production: 1 billion tons
Share: Over 50% of global production
Issues: The global steel industry faces significant overcapacity in China. The country's steel production consistently exceeds demand, causing price drops and impacting the profitability of steel producers worldwide.
Historically, China's real estate sector consumed more than 30% of the domestic steel production. However, a three-year real estate crisis has reduced steel demand. To address overcapacity, the Chinese government has mandated production cuts since 2021. This move also aims to reduce carbon emissions, contributing to Beijing's goal of achieving net-zero carbon emissions.
India
Production: 140 million tons
Position: Second largest producer
Notes: India's steel production continues to grow, driven by increasing domestic demand and infrastructure projects.
Japan
Production: 87 million tons
Position: Third largest producer
Notes: Japan maintains a robust steel industry, focusing on high-quality steel production and technological advancements.
The infographic provides a visual representation of these production figures, highlighting China's dominant position in the global steel market and the significant gap between China and the next largest producers, India and Japan.
Introduction to Nam Kim Steel
Nam Kim Steel, also known as Ton Nam Kim, is a leading producer of galvanized steel in Vietnam. They provide high-quality steel products for various industries, ensuring durability and reliability. Their galvanized steel is widely used in construction and manufacturing, known for its excellent corrosion resistance and long-lasting performance. Nam Kim Steel continues to innovate and meet the demands of both domestic and international markets. For more information about our products and services, please contact us directly:
TEL/WHATSAPP: +84 965047865
EMAIL: trietlm@namkimgroup.vn
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