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Crude steel, China (China Baowu)
Shanghai, China31.23°N 121.47°E
computed criticality17/100
reading
≈1,005 Mt of crude steel in 2024, ≈53% of the world total (1,882 Mt); China Baowu is the top steelmaker (≈130 Mt)
2024Fault line
In 2024 China produced about 1,005 Mt of crude steel out of 1,882 Mt worldwide, close to 53%, and China Baowu remains the world's largest steelmaker at roughly 130 Mt. That concentration effectively sets prices, overcapacity and standards for the global steel market, the base material of construction, automotive and infrastructure. A shift in Chinese demand or industrial policy ripples through the whole chain, from iron ore to specialty steels.
↘Easing2030
China produces about 54% of the world's steel but its share is expected to erode by 2030 according to the OECD, as Chinese demand falls (-6.9% in 2025) while India adds nearly 40 Mt of production.OCDE, Steel Outlook, 2026 ↗
Actors
China Baowu Steel Group (Shanghai)
Ansteel Group
HBIS Group
Jiangsu Shagang
Sources