The Iron and Steel Industry is one of the major expanding sectors of business in the world. Colossus companies like Arcelormittal, VALE, TATA Steel, Hyundai Steel, NUCOR, and others are the leading frontiers in the Iron and Steel industry. Defence, automobiles and transportation, manufacturing and construction of factories, rail networks and buildings- pretty much everything requires steel.
The steel industry with all its vast array of products has entwined into our daily lives smoothly. The relatively cheaper rate and the high tensile strength of steel is the main reason why it is used so commonly. The steel industry is cyclical in nature. The industry’s profit from the consumption of its goods depends on the nation’s economy, which in turn depends on the crude steel production that later gets converted to other forms of steel products. Checkout the top 10 best best and largest steel manufacturing companies in the world by market cap in 2019.
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10. JFE Holdings
Established in 2002, the company has headquarters located in Tokyo, Japan. With a market value of $40.10 billion the company currently hold the fifth position in the Steel Industry worldwide. Although the company’s primary investment is steel production, it also has other involvements such as engineering metal products, ship and aircraft building and real estate development. There are three major production centers- two of which command the western and eastern shores of Japan and the last one is Chita Works. The center of Chita Works focuses on manufacturing steel pipes and steel tubes. Apart from the obvious above, the company has a Research and Development wing that develops better technology for steel manufacturing. High quality steel products are engineered and developed using modern technology.
Established in 1942, Vale is headquartered in Rio de Janeiro, Brazil. With a market value of $72.4 billion, it is a globally acknowledged brand in the Steel Industry. Its logistic operations in metals and mining activities make it the biggest company in Steel business in Brazil. Vale SA (South America) is involved in production and export of iron ore, iron pellets, Ferroalloys and manganese products, thus providing with the major raw materials needed in steel production. The company has four broad investments- Bulk Material, Basic Metals, Fertilizers, and the Logistic Services. It is also the largest producer of Nickel, iron ore and iron pellets. The company also produces metallurgical and thermal coal, ferroalloys; copper, platinum, potash, phosphates, cobalt, and certain other fertilizer nutrients. It provides logistic operational materials needed for railroads, maritime terminals, and ports that increase the efficacy of mining operations. Vale is popular for its calculative moves in joint ventures and coalesces with other business behemoths.
8. Nippon Steel & Sumitomo Metal
Established in 2012, Nippon Steel has its headquarters in Fuji. As it can be seen the company despite being a new one, has rapidly risen in the Industry currently commanding the third position with a market value of $67.5 billion worth assets. The company has five main segments in its business- steelmaking and steel fabrication, Engineering and construction, chemicals, new materials mainly nonferrous, and system solutions. The company made huge profits implementing renovations of its domestic mother mills and advancing technologies.
Found in 1968, Posco has its headquarters in Pohang, South Korea. With assets worth $80 billion, Posco is a famous multinational steel manufacturer. It employed almost 18000 employees at the end of 2015 itself. Pohang works, the largest stand-alone steel mill in the world is owned by Posco. It produces hot rolled, cold rolled and even stainless steel products. The 29th Steel Success Strategies conference named Posco the most competitive amidst the 36 other companies of the Industry for its consistent quality and production standards.
6. Arcelor Mittal
Found in 2006 by Lakshmi Mittal, Arcelor Mittal has its headquarters in Lin Avenue de la Liberte. With assets worth $112.3 billion, it is the largest steel manufacturing company in the world. Arcelor Mittal has its tentacles reaching out to 19 countries across 4 continents that include 54 integrated and small scaled steel manufacturing mills. The company’s success lies in its wide geographic diversion in steel operations. It provides steel and associated goods to both developing and developed countries. The company also produces iron ore and coal and has integrated business deals with other major companies.
Founded in 1905 and headquartered in Kobe City, Japan Kobe Steel is one of the oldest companies in the Steel industry. The company invests in titanium and titanium alloys, steel wire rods and bars, steel sheets, steel billets, steel castings & forgings, slag products, foundry pig iron, stainless steel tube and other associated steel products. The company is also engaged in the power supply, construction machinery, electrical machinery, real estate, and electronic materials and much more. Kobelco’s current assets are worth almost $21.20 billion.
Gerdau has its headquarters in Porto Alger, Brazil. It is one of the most famous companies in the Steel Industry. The company is worldwide popular for its extensive use of pig iron and other metals. The company has assets worth $24.8 billion.
Founded in 1905, and headquartered in Charlotte, North Carolina, NUCOR is America’s largest recycling company and is wildly popular worldwide for being the same. The company’s assets are worth $15.2 billion. NUCOR has three major sections- Steel Products, Steel Mills, and Raw materials. Products like steel fasteners, steel joists, metal building materials and systems, fabricated concrete reinforcing steel, light gauged steel framing and grating, wire & wire mesh are produced by the Steel Products division. The Steel Mills regulate the production and distribution of structural steel, plate steel, sheet steel, and bar steel. Lastly, the Raw Mills section produces brokers’ ferrous and nonferrous metals and also distributes reduced iron. The company recycles almost 1 ton of steel every 2 seconds and is righteously labeled as the greatest recycling Steel company of America.
2. Tata Steels
Established in 1907 in Jamshedpur by JRD TATA and presently headquartered in Bombay, India, Tata Steels owns a roughly $27.2 billion worth of assets. It is the largest Steel manufacturing company in India. Its largest plant is located in Jamshedpur, Jharkhand and its capacity is 9.7 MPTA. The company has deep reaches with its manufacturing operations established in around 26 countries including India, the UK, Netherlands, Thailand, Singapore, China and Australia. The total annual crude steel capacity of TATA Steel is a surprising amount of 29MTPA.
Acquiring the UK based steel major Corus in 2007 for $13 billion was the largest international acquisition ever done by an India company. Various products under TATA Steel include the production of steel through the blast furnace/BOF route which is one of the most highly efficient manufacturing techniques. Modern CR mills to produce CR and galvanised products are in use. The company’s characteristic products include value-added steel products, such as HR strips, coils, sheets, plates, bars, rods and other structural goods. Semis, that is, billets, blooms, and slabs are also manufactured.
1. Baoshan Iron and Steel
Founded in 2000 in Shanghai, China the company has an asset value of almost $37.4 billion. It is commonly known as Baosteel. The company’s three major sectors of Steel processing are- iron and steel manufacturing, sales of iron and steel products and other specialised business affairs. The Iron and steel manufacturing sector is responsible for all units of iron and steel production, while the Sales department majorly takes care of trading of iron and steel. The Other specialised segment includes services like finance, chemical and information services.
All the sectors of the company are managed through its subsidiaries. Of late new initiatives have been launched for research and development of new materials such as aluminum, magnesium, titanium products and energy storage materials. It is expected that these new commodities will be helpful in ameliorating the distribution network employing better technology. The company plans to thus, grow into a supplier of integrated material solutions focused on iron and steel.
Steel is a major part of our day-to-day life. All the high-rise towering buildings and the impeccable perfect monuments that we see today would be impossible without iron and steel. Just a blend of iron, limestone and few other materials, this substance is a major key element to hold bridges, towers, and structures of the world together. So the top 10 steel manufacturing companies are as listed above.