BEIJING (Reuters) - Japan's Nippon Steel clinched a deal on Monday to buy U.S. Steel for $14.9 billion in cash.
Below is a list of the world's top 10 steelmakers and their annual output, according to 2022 data from the World Steel Association.
1. China Baowu Steel Group Corporation
Chinese state-owned Baowu is by far the world's largest steelmaker, producing 131.84 million metric tons last year.
It is also investing in iron ore mines, partnering with global miner Rio Tinto (LON:RIO)'s unit in Guinea on the huge Simandou project.
2. ArcelorMittal
Luxembourg-based ArcelorMittal produced 68.89 million tons of steel in 2022, making it the second largest.
It sold off Kazakh assets earlier this month however, and in November said it will close long steel operations in its South African unit due to weak demand and persistent infrastructure problems.
3. Ansteel Group
China's state-run Ansteel produced 55.65 million tons of crude steel in 2022 and is the country's largest supplier of the metal for railways and shipping.
4. Nippon Steel Corporation
Japan's Nippon Steel is currently the world's fourth-largest steelmaker, producing 44.37 million tons last year.
The acquisition of U.S. Steel will add 20 million metric tons of crude steel capacity to its 66 million tons and make it a bigger supplier to the U.S. auto industry.
U.S. steel produced 14.49 million tons of crude steel in 2022.
5. Shagang Group
China's Shagang is the country's largest privately owned steelmaker, producing 41.45 million tons of crude steel in 2022.
6. HBIS Group
China's state-owned HBIS group produced 41 million tons of crude steel in 2022 and is China's largest home appliance steelmaker and the second-largest producer of automobile steel products.
7. POSCO Holdings
South Korea's POSCO Holdings produced 38.64 million tons of crude steel in 2022.
8. Jianlong Group
China's privately owned Jianlong Group produced 36.56 million tons of crude steel in 2022.
9. Shougang Group
China's state-owned Shougang Group produced 33.82 million tons of crude steel in 2022 and is a major supplier of auto plates to leading automakers including BMW and Mercedes-Benz.
10. Tata Steel
India's Tata Steel produced 30.18 million tons of crude steel in 2022. It is one of the largest steelmakers in Europe with facilities in the UK and the Netherlands.