China Leads the Global Steel Industry in 2024, India Strengthens Its Position as Second Largest Producer

Global Trends | July 9, 2025 – The global steel industry data for 2024 reveals China’s unmatched dominance, with the country producing an incredible 1,005 million tonnes (Mt) of crude steel. This figure not only reaffirms China’s status as an industrial powerhouse but also exceeds the combined output of the rest of the top ten producing nations, reflecting a massive gap in global production capabilities.

India, maintaining strong momentum, has firmly retained its position as the world’s second-largest steel producer, with an impressive 149 Mt. This achievement mirrors India’s ongoing industrial expansion and the rising demand from its infrastructure and construction sectors. The country continues to be a major force in shaping global steel supply trends.

Japan holds third place with 84 Mt, reflecting its consistent output rooted in advanced manufacturing and precision engineering. The United States, not far behind, produced 80 Mt, sustaining its role as a key contributor, especially for domestic infrastructure and manufacturing needs.

In the next tier, Russia produced 71 Mt and South Korea added 64 Mt, both maintaining their global competitiveness and strong export orientation. Türkiye and Germany are tied in seventh place, each producing 37 Mt, demonstrating solid industrial performance in both regions.

Brazil, representing South America, follows with 34 Mt, while Iran, producing 31 Mt, completes the top ten, signaling its growing presence in global steel markets despite geopolitical challenges.

Outside of the top producers, the Rest of the World accounted for 293 Mt, indicating that while large-scale production is centered in a few countries, steel manufacturing remains a globally relevant industry.

These 2024 statistics capture the evolving dynamics of steel production, with China maintaining a massive lead, and India emerging as a strong and consistent global contributor in this critical sector.