Guess Who Is the Biggest Steel Maker in the World?

Drum roll...........CHINA!

In 2003, China was far behind in steel production. It actually had to import more steel to feed its rapid growth than almost any other nation on the planet.

Now, just three years later, China is suddenly the largest steel producer on the planet.

Just look at these numbers in the diagram here:

In 2006, China produced 420 million metric tons of steel.
That's more than double the total steel production of 25 European countries (200 million tons) … three and a half times Japan's (120 million) … and over FOUR times America's (100 million).
But given the current growth rates of steel production, the chances of anyone overtaking China any time in our lifetime is remote. Last year, for example, steel production in China soared 18%; while the U.S. steel industry was fortunate to grow by 6%.
Meanwhile, China's steel exports have multiplied seven fold in just three years! So in addition to being the largest producer, it's also the largest steel exporter in the world.
It's a heavy-weight in virtually every steel product category — long products, flat products, tubes … and in almost every market — Asia, Europe, North America and South America.
For better or for worse, China is the undeniable steel king of the world!