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Revenue of the world's largest iron and steel companies 2018

In 2018, Luxembourg-based ArcelorMittal sold 76 billion U.S. dollars’ worth of iron and steel and kept its status as the world’s largest iron and steel company. Main categories of steel products include slabs, hot-rolled coil, cold-rolled coil, rebars, and rails.

Joint efforts

ArcelorMittal is undoubtedly the largest iron and steel company in the world. The company has consistently generated the highest revenue among iron and steel companies since the 2006 merger of Mittal Steel with Arcelor, which had been the largest steel company prior to the deal. When considering production output, ArcelorMittal’s lead over competitors is even more substantial. The company accounts for about six percent of global steel production. After a bullish 2018, ArcelorMittal is suffering from low demand increase rates in Europe, the Middle East, and the United States and has actually lost money during the first half of 2019.

Environmental woes

Steelmakers lost public reputation after the discovery of a price-fixing scandal that lasted from 1987 to 2002, resulting in fines of approximately 270 million euros. The cartel consisted of 17 producers of steel, including ArcelorMittal, and trust in ArcelorMittal was still low in 2018.

The steel industry is a major source of pollution across the world. During the steelmaking process, coal furnaces release carbon dioxide and sulfur dioxide emissions. In Ukraine, President Zelensky has been critical of ArcelorMittal’s pollution levels, and poor environmental standards have sparked criticism of ArcelorMittal after the acquisition of an out-of-date steel plant in Italy.

The world's largest iron and steel companies in 2018, based on sales

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Supplementary notes

Each company making the list has to be public. The source uses the latest-12-months’ financial data available to them.

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