Visualizing Raw Steel Production in 2023
June 20, 2024

By  Article/Editing: Bruno Venditti Graphics/Design: Sam Parker

Visualizing Raw Steel Production in 2023


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Steel is essential for the economy due to its crucial role in infrastructure, construction, manufacturing, and transportation sectors.


This graphic breaks down the estimated global production of raw steel in 2023. The data was sourced from the U.S. Geological Survey as of January 2024.


China Produces More Than Half the World’s Steel


One major issue facing the steel industry is overcapacity in top producer China.


Steel production in China has surpassed demand in recent years, leading to downward pressure on the profit margins of steel mills worldwide.


Historically, China’s troubled real estate sector has accounted for over one-third of the country’s steel consumption. To address this issue, the Chinese government has mandated steel production cuts since 2021.


Far behind China, India is the second-biggest producer of steel, followed by Japan.

Country Region 2023 Production (million tonnes)
🇨🇳 China Asia 1,000
🇮🇳 India Asia 140
🇯🇵 Japan Asia 87
🇺🇸 U.S. North America 80
🇷🇺 Russia Europe 75
🇰🇷 S. Korea Asia 68
🌍 Rest of World 420
Total 1,870

Infinite Recyclability


Steel is an alloy primarily composed of iron ore containing less than 2% carbon, 1% manganese, and other trace elements. It is 1,000 times stronger than iron and can be recycled over and over without sacrificing quality.


Steel is widely used in various industries. It is a fundamental material in construction, providing support through beams, internal structures, and roofing.


Moreover, steel’s corrosion-resistant properties make it ideal for water infrastructure. Stainless steel pipes are the preferred choice for underground water systems, ensuring longevity and purity in water transportation.

Additionally, most canned foods are stored in steel containers for preservation, as steel does not rust.


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March 18, 2025
TORONTO, March 18, 2025 - VVC Exploration Corporation, dba VVC Resources, (“VVC”), (TSX-V:VVC and OTCQC:VVCVF) announces the following: Appointment of Officers The Directors appointed Mr. Bill Kerrigan as President and Chief Operating Officer of VVC. Mr. Kerrigan will continue to be President of Plateau Helium Corporation. Mr. James A. Culver will remain as CEO of VVC. VVC Chairman, Terrence Martell, commented, "As a representative of Management and the Board, I extend heartfelt gratitude to Mr. Culver for his years of service as President. I also welcome Mr. Kerrigan to his new role as President and I am confident that he will provide positive momentum for VVC." Option Grant The Directors also granted incentive stock options under its stock option plan, to officers, directors and consultants of the Company, to purchase up to an aggregate of 15,700,000 common shares, representing 2.74% of the outstanding shares of the Company. The stock options are exercisable at a price of CA$0.05 per share expiring March 17, 2035. 25% of the options granted will vest immediately with the remaining vesting at 25% every six months. The exercise price was fixed at the minimum allowable price by the TSX Venture Exchange policies. The options, granted in accordance with the provisions of the Company's stock option plan, are subject to the TSX Venture Exchange policies and the applicable securities laws. Of the Options granted, 41.1% were to Directors, 30.3% to Officers and 28.7% to Employees/Consultants of the Company. About VVC Resources VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Copper & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC). To learn more, visit our website at: www.vvcresources.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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