{"id":1292293,"date":"2023-05-21T23:10:35","date_gmt":"2023-05-22T03:10:35","guid":{"rendered":"https:\/\/bugaluu.com\/news\/china-dominates-the-worlds-biggest-steel-producers\/1292293\/"},"modified":"2023-05-21T23:10:35","modified_gmt":"2023-05-22T03:10:35","slug":"china-dominates-the-worlds-biggest-steel-producers","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/china-dominates-the-worlds-biggest-steel-producers\/1292293\/","title":{"rendered":"China Dominates The World’s Biggest Steel Producers"},"content":{"rendered":"
\"\"<\/a><\/div>\n

China Dominates The World’s Biggest Steel Producers<\/span><\/p>\n

\n

Steel is a critical component of modern industry and economy, essential for the construction of buildings, automobiles, and many other appliances and infrastructure used in our daily lives.<\/p>\n

Visual Capitalist’s Niccolo Conte create this infographic<\/a>, using data from the\u00a0World Steel Association,<\/a> to visualize the world\u2019s top steel-producing countries, and highlights China\u2019s ascent to the top, as it now makes up more than half of the world\u2019s steel production.<\/p>\n<\/p>\n

The State of Global Steel Production<\/h2>\n

Global steel production in 2022 reached 1,878 million tonnes, barely surpassing the pre-pandemic production of 1,875 million tonnes in 2019.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Country<\/th>\n2022 Production (in million tonnes)<\/th>\nAnnual Production Change<\/th>\nGlobal Share<\/th>\n<\/tr>\n<\/thead>\n
\ud83c\udde8\ud83c\uddf3 China<\/td>\n1013.0<\/td>\n-2.0%<\/td>\n53.9%<\/td>\n<\/tr>\n
\ud83c\uddee\ud83c\uddf3 India<\/td>\n124.8<\/td>\n5.3%<\/td>\n6.6%<\/td>\n<\/tr>\n
\ud83c\uddef\ud83c\uddf5 Japan<\/td>\n89.2<\/td>\n-7.9%<\/td>\n4.8%<\/td>\n<\/tr>\n
\ud83c\uddfa\ud83c\uddf8 United States<\/td>\n80.5<\/td>\n-6.5%<\/td>\n4.3%<\/td>\n<\/tr>\n
\ud83c\uddf7\ud83c\uddfa Russia<\/td>\n71.5<\/td>\n-5.8%<\/td>\n3.8%<\/td>\n<\/tr>\n
\ud83c\uddf0\ud83c\uddf7 South Korea<\/td>\n65.9<\/td>\n-6.9%<\/td>\n3.5%<\/td>\n<\/tr>\n
\ud83c\udde9\ud83c\uddea Germany<\/td>\n36.8<\/td>\n-8.8%<\/td>\n2.0%<\/td>\n<\/tr>\n
\ud83c\uddf9\ud83c\uddf7 T\u00fcrkiye<\/td>\n35.1<\/td>\n-15.0%<\/td>\n1.9%<\/td>\n<\/tr>\n
\ud83c\udde7\ud83c\uddf7 Brazil<\/td>\n34.0<\/td>\n-6.5%<\/td>\n1.8%<\/td>\n<\/tr>\n
\ud83c\uddee\ud83c\uddf7 Iran<\/td>\n30.6<\/td>\n6.8%<\/td>\n1.6%<\/td>\n<\/tr>\n
\ud83c\uddee\ud83c\uddf9 Italy<\/td>\n21.6<\/td>\n-13.0%<\/td>\n1.1%<\/td>\n<\/tr>\n
\ud83c\uddf9\ud83c\uddfc Taiwan<\/td>\n20.7<\/td>\n-12.1%<\/td>\n1.1%<\/td>\n<\/tr>\n
\ud83c\uddfb\ud83c\uddf3 Vietnam<\/td>\n20.0<\/td>\n-15.0%<\/td>\n1.1%<\/td>\n<\/tr>\n
\ud83c\uddf2\ud83c\uddfd Mexico<\/td>\n18.2<\/td>\n-1.9%<\/td>\n1.0%<\/td>\n<\/tr>\n
\ud83c\uddee\ud83c\udde9 Indonesia<\/td>\n15.6<\/td>\n8.3%<\/td>\n0.8%<\/td>\n<\/tr>\n
Rest of World<\/td>\n201.0<\/td>\n-11.2%<\/td>\n10.7%<\/td>\n<\/tr>\n<\/tbody>\n
World Total<\/th>\n1878.5<\/th>\n-3.9%<\/th>\n100.0%<\/th>\n<\/tr>\n<\/tfoot>\n<\/table>\n

2022\u2019s steel production marked a significant reduction compared to the post-pandemic rebound of 1,960 million tonnes in 2021, with a year-over-year decline of 4.2%\u2013the largest drop since 2009, and prior to that, 1991.<\/p>\n

This decline was spread across many of the world\u2019s top steel producers, with only three of the top fifteen countries, India, Iran, and Indonesia, increasing their yearly production. Most of the other top steel-producing countries saw annual production declines of more than 5%, with Turkey, Italy, Taiwan, and Vietnam\u2019s production all declining by double digits.<\/p>\n

Even the world\u2019s top steel-producing nation, China, experienced a modest 2% decline, which due to the country\u2019s large production amounted to a decline of 19.8 million tonnes, more than many other nations produce in a year.<\/p>\n

Despite India, the world\u2019s second-largest steel producer, increasing its production by 5.3%, the country\u2019s output still amounts to just over one-tenth of the steel produced by China.<\/p>\n

China\u2019s Meteoric Rise in Steel Production<\/h2>\n

Although China dominates the world\u2019s steel production with more than a 54% share today, this hasn\u2019t always been the case.<\/p>\n

In 1967, the World Steel Association\u2019s first recorded year of\u00a0steel production<\/a>\u00a0figures, China only produced an estimated 14 million tonnes, making up barely 3% of global output. At that time, the U.S. and the USSR were competing as the world\u2019s top steel producers at 115 and 102 million tonnes respectively, followed by Japan at 62 million tonnes.<\/p>\n

Almost three decades later in 1996, China had successively overtaken Russia, the U.S., and Japan to become the top steel-producing nation with 101 million tonnes of steel produced that year.<\/p>\n

The early 2000s marked a period of rapid growth for China, with consistent double-digit percentage increases in steel production each year.<\/p>\n

The Recent Decline in China\u2019s Steel Production<\/h2>\n

Since the early 2000s, China\u2019s average annual growth in steel production has slowed to 3.4% over the last decade (2013-2022), a considerable decline compared to the previous decade\u2019s (2003-2012) 15.2% average annual growth rate.<\/p>\n

The past couple of years have seen China\u2019s steel production decline, with 2021 and 2022 marking the first time the country\u2019s production fell for two consecutive years in a row.<\/p>\n

While it\u2019s unlikely China will relinquish its position as the top steel-producing nation anytime soon, it remains to be seen whether this recent decline marks the beginning of a new trend or just a brief deviation from the country\u2019s consistent production growth.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nMon, 05\/22\/2023 – 02:45<\/span><\/p>\n

From:Zerohedge<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

China Dominates The World’s Biggest Steel Producers Steel is a critical component of modern industry and economy, essential for the construction of buildings, automobiles, and…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1292293","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-5qbr","jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1292293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1292293"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1292293\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1292293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1292293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1292293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}