In 2017, the globe’s total crude steel production increased by 3.6 percent to hit 1.689 billion metric tons. Out of this, only 25 percent came from the world’s largest steel manufacturers.
This means the bulky 75 percent came from small and medium-scale steel construction materials firms like the fastener manufacturer BACO Enterprises and the others scattered across the world.
According to the World Steel Association, these are the top 5 steel companies with production numbers exceeding their peers.
POSCO # 5
In 2017, Pohang iron and steel company, POSCO manufactured 42.19 million metric tons of steel to emerge as the fifth largest steel producer in the world.
Established in 1968, POSCO operates a joint industry with US steel in California and another one in South Korea. In 2017, it recorded an annual revenue of $53.6 billion, having increased by 14.3 percent from 2016.
POSCO is special in the sense that it was started by former South Korean political leader Tae-Joon Park. His aim was the creation of a large-scale modern steel manufacturer in the country. In six years, their annual production was already hitting 9 million metric tons.
It is the only steel manufacturer with a university. Its major products are cold rolled steel (accounting for 40% of their revenue), hot rolled steel (24%), steel plates (15%), wire rods, stainless steel, and electrical steel plates.
HBIS GROUP # 4
The total steel production by HBIS in 2017 was 45.56 million metric tons. This state-owned Chinese steel production and global marketing … Read More . . .