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.


Copyright © 2024 Visual Capitalist

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