Which is the largest steel company in the world?
Although China's steel production has already ranked first in the world, the world's largest steel company is not in China. The ArcelorMittal Group from Luxembourg is the world's largest steel group with annual production of 130 million tons of steel, accounting for about 10% of global steel production. It has more than 300,000 employees in more than 60 countries around the world and it is called "Steel Giant".
According to the latest news, China Baowu Iron and Steel Group will soon merge with Maanshan Iron and Steel Group. After the merger, the new company's steel output will approach 90 million tons, approaching the world's largest steel group. Baowu Iron and Steel Group's annual steel production capacity is 70 million tons, while Maanshan Iron and Steel Group's annual production capacity is about 20 million tons. After the merger, the steel production target is more than 100 million tons, and strive to become the world's largest steel company.
However, the combined sales of Baowu Iron and Steel Group and Maanshan Iron and Steel Group will exceed the ArcelorMittal Group. According to the data, ArcelorMittal Group achieved sales revenue of USD 76 billion in 2018, equivalent to RMB 525 billion, and net profit of RMB 35.5 billion. Baowu Iron and Steel Group's sales revenue in 2018 was 438.6 billion yuan, net profit was 27.4 billion yuan. Maanshan Group's sales revenue was 91.7 billion yuan, and net profit was 7.5 billion yuan. Then the combined company's sales revenue will reach 530.3 billion yuan and the net profit will be 34.9 billion yuan.