There are many companies in Europe and other parts of the world but if you want to talk about the top 10 you better know them well. ArcelorMittal has operations in more than 60 countries and is headquartered on Avenue Liberty, Luxembourg. The company was formed in 2006 by the merger of Arcelor and Mittal Steel. The company employs 232,000 people and produces 10% of the world’s steel. ArcelorMittal plays an important role in supplying steel to the domestic, packaging, automotive, and construction markets. Overall, Europe produces 47% of the steel, the US produces 35%, and the rest of the world (Kazakhstan, Ukraine, and South Africa) produces 18% of global steel. At the start of the merger, the multinational steel company announced 35 deals globally. The company continues to invest and announce deals in Australia, France, South Africa, Canada, Brazil, Turkey, Costa Rica, Sweden, Venezuela, the United States, and the United Arab Emirates. The NSSMC (Nippon Steel & Sumitomo Metal Corporation) factory was established in 2012 in collaboration with Nippon Steel and Sumitomo Metal. NSSMC is the world’s second-largest steel supplier with almost 83,000 employees in 15 countries. The company provides steel for construction, automotive, construction, energy, resources, and railways. Hebei Iron and Steel Group Co., Ltd. was established in 2008. The state-owned enterprise is headquartered in Shijiazhuang, Hebei Province, the People’s Republic of China. The facility has an annual steel production capacity of 30 million tons, making the company China’s largest steel supplier. The company mainly produces wire rods, cold-rolled plates, hot-rolled steel, rod, hot-rolled plate, vanadium pentoxide, galvanized plates, welded pipes and other products as required. 
Baosteel is one of the world’s largest steel suppliers. Baosteel Group was established in 1978 and is headquartered in Pudong, Shanghai, China. The company has 130,401 employees and produces stainless steel, carbon steel and other steel products, which are exported to more than 40 countries. The company supplies steel for applications such as automotive, petrochemical, transportation, nuclear energy, household appliances, metalworking, energy, mechanical engineering, electronic instrumentation and aerospace. Wuhan Iron and Steel Group is headquartered in Wuhan City, Hubei Province, People’s Republic of China. The company was founded in 1958 and is known as China’s first major steel conglomerate. In addition, the company also supplies silicone products, cold-rolled products, hot-rolled products, profile products, plate products, wire products, etc. POSCO, commonly known as POSCO, was established in 1968 and has become one of the largest steel producers in the world. Headquartered in Posco, South Korea, POSCO has two main plants in Pohang and Gwangyang, which together produce 33.7 million tons of steel annually. Flat steel, long steel, plate, and wire rod are the main products of our factory. Jiangsu Shagang is one of the five largest steel producers in China. 
The company is located in Hangjia Port, Jiangsu, China, and was established in 1975. With an annual output of nearly 18 million tons of iron, the production line consists of wire rod, hot-rolled wide strips, rods and plates. Tata Steel Group was founded in 1868 by Jamsetji. Tata Corporation is headquartered in India and has over 581,470 employees worldwide. Tata’s revenue in 2013-14 was USD 103.27 billion (approx. Rs 624,757 crore), of which 67.2% came from companies outside India. Founded in 1953 as Korea’s first steel producer, Hyundai Steel has paved the way for sustainable growth by strengthening its blast furnace business as a new growth engine. JFE Steel Corporation was established in 1950 and is headquartered in Tokyo, Japan. The company was formerly known as Kawasaki Steel Co., Ltd., and changed its name to JFE Steel Co., Ltd. in April 2003. The company supplies steel sheets, electrical panels, pipes, stainless steel products, steel rods, wires, etc. Statistics of China’s steel production in January-February 2022 According to Artan Press, China’s steel production from January to February was as follows: Crude steel production: 157.96 million tonnes, a decrease of 10.0% year-on-year Production of hot metal: 132.13 million tonnes, a decrease of 10.8% year-on-year. Finished steel production: 196.71 million The Bureau of Statistics also released data on its major downstream steel industries on Tuesday. 
* Downstream steel industry-related data The newly started construction area was 149.67 million square meters, a decrease of 12.2% compared to the previous year’s Infrastructure investments: an increase of 8.1% compared to the previous year. * Data related to car production and sales On March 14, the China Association of Automobile Manufacturers (CAAM) released car production and sales data for the first two months of 2022. January-February production: 4.24 million units, up 8.8% from the previous year January-February sales: 4.27 million units, a year-on-year increase of 7.5% Production in February: 1.81 million units, a year-on-year increase of 20.6% and a decrease of 25.2% from January. February sales: 1.74 million units were produced, up 18.7% year-on-year. In addition, the amount fell by 31.4% on a monthly basis. World steel production in 2021 will increase by 3.7% compared to the previous year. But the industry is already overshadowed by the war in Eastern Europe in 2022. The disruption of Russian steel and iron ore production and exports due to sanctions and war conditions, as well as the destruction of Ukrainian steel production and iron ore export infrastructure, have affected world markets, causing instability and distortions in supply and prices. 
Although the event has had the greatest impact on European steel, other countries are also feeling the aftermath of the war, as the world’s economic markets are interdependent and intertwined. At present, the policy of the great steel mills appears to be somewhat confusing and somewhat uncertain. The volatility in China’s steel market has contributed to the shrinking of the country’s steel supply and demand system. New policies in the housing sector and the Chinese steel producers’ desire to change technology and produce more value-adding durable and green steel have had an impact. China’s steel production fell by 2.5% in the first four months of 2022, which in addition to low steel production also affected the global iron ore market. The country imports a significant portion of the iron ore it needs. Falling demand will reduce imports and, at best, iron ore stocks in Chinese ports, leading to price volatility in the iron ore market. Despite strict Covid-19 policies, with the unveiling of new laws in the housing sector in China resulting in reduced demand and a decline in steel production, steel production and iron ore mining and exports have also created suitable opportunities for countries like India. 
steel companies in Europe
India responded to the growing demand for steel companies in the country especially in Europe by relicensing iron ore mining and exports in Karnataka and easing restrictions in two other regions. It looks like Indian steel production will continue to grow in the first half of this year. Disruptions in iron ore exports from Ukraine and Russia have angered the European steelmaking market. The use of several European charters to treat existing conditions has not been successful and will take a long time. Brazil’s steel production fell by 4% and iron ore exports fell by 3%, suggesting that the country has not taken advantage of wartime conditions in Eastern Europe. 
A series of such events and other matters and factors have led experts to reduce demand growth in the steel industry to a range of 0.4% to 0.5%. As such, any upward trend in demand growth depends on changes in steel policy in the second half of the year, particularly in China and the EU. In 2021, Iran’s steel production ranks higher than countries such as Italy, Spain, France, Canada, Great Britain, and the Netherlands. However, the comparison of national steel production in 2020 and 2021 shows that national production in 2021 will be 1.8% lower than in 2020. The decline in steel production last year and in the first four months of 2022 was a serious wake-up call for steel throughout the country. It has been reported that Iranian steel production fell by 8.9% in the period, just as the heat set in and concerns intensified due to factory power outages and a significant drop in production. 
Iran loses nearly 10 million tons a year, worth $6 billion, due to power and gas outages in summer and winter. Efforts by domestic steel producers to maintain competitive conditions in the production market have forced these companies to intensify their activities at a time of power and gas outages. This increases the depreciation cost of parts, shortens the time to reach the annual breakdown time of the production plant and reduces the steel production capacity. The Ukrainian war affected steel supplies in the Commonwealth of Independent States. This can be seen as an opportunity for us to fill this production gap through production and export. Of course, we have to admit that we will be in tough competition with Indian and Turkish companies. 
At the same time, sanctions against Iran’s steel industry, weak infrastructure, and challenges in energy, transportation, and lack of financial resources and banking support will be a weakness leading to such a thing. On the other hand, Russia’s dumping policy and the fact that the price of steel products in the country is close to the price of our products is also a serious threat that can encourage our export destination countries to buy from Russia. Although this move by Russia is in the country’s national interest, it is against international standards. So far, the country’s steel export markets, such as China, South Korea, and even India, have tended to buy Russian products. Through this action, these countries can buy most of the iron ore they need at reasonable prices. On the other hand, Russia has also reduced the impact of EU sanctions, even the damage caused by dumping. 
At present, these two problems are the two major challenges facing domestic steel this year. Two challenges undermine the growth and development of steel and investment opportunities in the sector. To get out of the current situation, we need to implement realistic policies that are in the national interest. Today, economic competition is not one-dimensional but mixed with other dimensions such as political, social and international. For example, the embargo of the Persian Gulf countries against Qatar, the growth of the country’s construction industry due to the upcoming World Cup, provides a rare opportunity for the development of Iranian exports, but wrong policies on the international stage and lack of proper understanding of the opportunity As a result, we were unable to exploit this opportunity in the best possible way like Turkey. Knowing that achieving 55 million tons of production in 1404 requires the removal of any infrastructure barriers, it must be said that the solution to the energy crisis requires interaction and cooperation between upstream institutions and producers. 
Facilitating the operational process of plant construction for steel producers and ensuring a return on investment for these companies are two important aspects of tackling the energy challenge. To deal with Russia’s dumping policy, we have to rely on economic diplomacy. It goes without saying that the resolution of the sanctions issue will open an important door for us to invest in and conquer the European market in an era of Russian sanctions. The increase in Iranian steel production capacity can be found in terms of both external and internal factors. Regarding the diplomatic factor, it should be mentioned within the national foreign policy. This sector has faced significant turmoil in recent years; during this period, Iran has faced hostile political actions and sanctions from Western governments, a factor that still has a wide and deep impact on the country’s economic situation.
