The kings of steel: 2025 ranking overview

According to the latest data published by the World Steel Association, the 2025 ranking of the world's top steelmakers shows a notable shake-up on the podium, a new entry into the top 10, and some reshuffling further down the table compared to 2024.

China still dominant, but slipping

China Baowu Group keeps the throne as the world's largest steel producer for yet another year, though its output fell from 130.09 to 124.76 million tonnes. ArcelorMittal holds onto 2nd place, with tonnage easing slightly to 63.43 Mt (from 65.15 Mt).  Generally speaking, the Asian continent still dominates the ranking: China alone still accounts for more than half of the companies in the top 50 ranking, though several individual Chinese producers lost ground this year.

The biggest shift: the Nippon Steel–U.S. Steel effect

Nippon Steel Corporation jumps from 4th to 3rd place, with tonnage rising sharply from 43.64 to 57.78 million tonnes — a leap of nearly 14 Mt that reflects Nippon Steel's completed acquisition of United States Steel Corporation, whose output is now folded into the Japanese group's total (alongside Sanyo Special Steel, Ovako, a 40% stake in AM/NS India, and a 22% stake in Brazil's Usiminas). As a result, United States Steel Corporation disappears as a standalone entry in the ranking — it was 29th in 2024 with 14.18 Mt.

This single change pushes Ansteel Group down from 3rd to 4th place, with only a modest decline in production (57.61 Mt vs 59.55 Mt).

Other notable movers

Within the top 10, Delong Steel breaks in rising from 11th to 9th place and pushing Shougang Group out to 12th. Beyond this, the biggest upward movers in the table are notably repeat performers. For the second year running, Vietnam's Hoa Phat Steel has gained numerous positions, this time climbing from 49th to 38th (8.71 → 10.87 Mt), while Türkiye's Tosyali Holding climbs again too, from 46th to 32nd (9.12 → 12.11 Mt).

Western producers face continued pressure

Western producers remain under pressure, with only limited representation in the upper tier of the ranking. To find an EU-based company – other than ArcelorMittal – we have to scroll down to the 47th position under thyssenkrupp. The first American steel mill is Nucor Corporation, holding the 16th position for a second year running, followed by Cleveland-Cliffs at 22nd and Steel Dynamics, Inc. at 40th. India's biggest steelmaker remains Tata Steel Group in 10th place, despite a slight production decline. Second-largest is JSW Steel Limited, which climbs from 12th to 11th place and significantly increased its tonnage (30.28 Mt, up from 26.95 Mt). SAIL follows in 18th place (up from 19th), also posting a production increase.

Who’s in and who’s out of the ranking

Overall, aside from the Nippon Steel/Ansteel swap detailed above and Delong Steel's entry into the top 10, the upper tier of the ranking held largely steady this year. In contrast, the mid-tier and lower-tier positions continue to fluctuate year-over-year, reflecting ongoing competition and shifting production strategies across the global steel industry. Among Russian producers: Novolipetsk Steel (NLMK) again holds No. 30, Magnitogorsk Iron & Steel Works (MMK) drops to No. 44 (–5), while Severstal climbs back to No. 39 (from 41st), overtaking MMK in the process. EVRAZ and Jindal Steel Limited (JSPL) both entered the top 50 this year, displacing Erdemir Group and Donghai Special Steel, which fell out of the ranking.

Complete ranking of the world’s top steel producers in 2025