Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Steel Industry 2025: Key Players, Market Shifts, and a Greener Future
The global steel industry is entering a new phase marked by consolidation, shifting production strategies, and growing pressure to adopt sustainable practices.
Leading Producers and Mergers
China Baowu Group remains the world’s largest steel producer with 130.8 million tonnes in 2023. Other global leaders include ArcelorMittal, Ansteel, Nippon Steel, and Hesteel. A major shift occurred in 2025 when Nippon Steel acquired U.S. Steel, boosting its global standing and reshaping the competitive landscape.
In North America, Cleveland-Cliffs has become the top flat-rolled steelmaker after acquiring ArcelorMittal USA and Ferrous Processing & Trading, signaling continued industry consolidation.
Production and Pricing Trends
Steel mills in the U.S. are adjusting prices to respond to evolving trade policies and economic fluctuations. Meanwhile, India has emerged as the second-largest steel producer globally, with 149.6 million tonnes in 2024, though its coal-reliant expansion raises environmental concerns.
Sustainability in Focus
Europe is leading the charge in green steel production, investing in hydrogen-based methods and electric arc furnaces. These innovations aim to reduce emissions and move toward a circular steel economy. However, rapid growth in countries like India may pose challenges to global climate targets unless greener technologies are adopted.
Outlook
The steel industry is poised for continued transformation. Consolidation will drive competitiveness, while sustainability will shape long-term strategies. Producers that embrace green innovation and strategic partnerships will lead the next chapter of global steel.
Also Read : Longer disruptions at Red Sea trade route may hurt auto, electronics production: GTRI Trump Approves Nippon Steel’s $14.9B U.S. Steel Deal with “Golden Share” to Safeguard American Control
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