Despite the nearly two million tons of production losses, ArcelorMittal was still the world's largest steel producer in 2016.
According to the latest World Steel Association data, the Luxembourgish steel giant remains on top of the ranking, followed by two Chinese groups: China Baowu Group, the result of a merger between Baosteel Group and Wuhan Group, and HBIS Group (formerly Hebei). China is still dominating the steel market: 26 out of the top 50 manufacturers are Chinese. Indian steel mills rose sharply with JSW Steel Limited and Essar Steel Group earning respectively nine and thirteen positions over the previous year. The first European company in the list is the Germany-based thyssenkrupp, ranked 15th.