Statistics and facts on the global steel industry
by Isabel Wagner
Steel is an alloy which is typically made by combining iron, carbon, manganese and other elements, including base metals
such as nickel and copper. The ferrous metal plays an essential role in infrastructure development and building construction, as well as in car manufacturing and shipbuilding. Furthermore, steel is one of the most widely recycled materials worldwide. About 1.5 billion metric tons of crude steel
was produced globally in 2011. That year, worldwide consumption of steel scrap
came to around 570 million metric tons.
With 2011 revenue of around 94 billion U.S. dollars, Luxembourg-based steel maker ArcelorMittal
is currently the world’s largest steel producing company. U.S.-based companies Nucor
and U.S. Steel
were ranked ninth and tenth respectively in 2011.
Photo: istockphoto.com / 3dfoto