Steel is one of the world’s most commonly used building materials, but only a small fraction of companies supply the bulk of it. US-based Nucor takes the top spot on our list, which also features Indian companies like Jindal Steel and Power, Tata Steel, and Korea’s Posco. Here, we’re covering the top 10 global steel companies ranked by their current market cap.
As one of the most commonly used building materials in the world, steel can be recycled indefinitely and has the potential to be an incredibly sustainable building material. However, concerns over the water pollution and greenhouse gas emissions caused by steel mining have marred the industry. As a result, steel manufacturers have been under pressure to take a more sustainable approach to steel mining, manufacturing, and production. This profile highlights the top 10 global steel producers and explores their commitment to sustainability.
Top 10 global steel companies
10. Jindal Steel and Power
Market cap: $10.75 billion USD
Employees: 11,178
Chairman: Naveen Jindal
Founded: 1952
Jindal Steel and Power (JSP) is based in New Delhi, India. Founded by Shiri O.P. Jindal in 1952, the company has grown from a single steel manufacturing unit in Kolkata to one of the largest steel producers in the country, with business operations extending into Africa and Australia.
Jindal Steel and Power has been recognized with several awards for its commitment to employee wellbeing. Most recently, Great Place to Work India named it one of India’s best employers among nation builders. JSP plants in Angul and Raigarh also won awards from the W.E. Global Employees’ Choice Awards in 2024 for best workplace. They have also committed to reducing carbon emissions by 35% by 2030.
9. Posco
Market cap: $16.23 billion
Employees: 44, 501
CEO: Si-woo Lee
Founded: 1968
Korea’s Posco was first established as Pohang Iron and Steel Company in 1968. Now, with 44,501 employees, it is one of the 10 largest steel companies in the world. Posco’s corporate vision is to “Build a better world with green steel.” Posco has committed to net-zero carbon by 2050.
8. Reliance Inc.
Market cap: $17.45 billion
Employees: 15,000
CEO: Karla L. Lewis
Founded: 1939
Reliance began in 1939 as the Reliance Steel Products Co. in California. Today, Reliance is part of a family of companies that spans 13 countries and 315 locations and employs 15,000 people. The company offers over 100,000 metal products and has expanded its focus to offer processes like “kitting, contract manufacturing, packaging, inventory and supply chain management, storage, and others.”
7. ArcelorMittal
Market cap: $19.10 billion
Employees: 126,756
CEO: Aditya Mittal
Founded: 2006
When Arcelor and Mittal Steel merged in 2006, ArcelorMittal was formed, creating one of the largest global steel and mining companies. Based in Luxembourg, ArcelorMittal manufactures steel for many industries, including automotive, construction, energy, appliances, and transport.
6. Tenaris
Market cap: $20.98 billion
Employees: 29,000
CEO: Paolo Rocca
Founded: 2001
Tenaris was formed in 2001 and is headquartered in Luxembourg. The company manufactures pipes and related services, employing 29,000 people in 23 countries and making $14.9 billion in annual net sales in 2023. Tenaris has committed to reducing carbon by 30% by 2030, using 79% recycled content in its steel, and implementing an internal carbon pricing model.
5. Nippon Steel
Market cap: $21.16 billion
Employees: 28,331
CEO: Eiji Hashimoto
Founded: 2012
Nippon Steel was founded in 2012 after integrating Nippon Steel Corporation and Sumitomo Metal Industries. The company has since become a powerhouse in the steel industry with a solid commitment to sustainability. Nippon Steel plans to reduce greenhouse gas emissions by at least 30% by 2030 and become fully carbon-neutral by 2050.
4. Tata Steel
Market cap: $21.20 billion
Employees: 70,000
CEO: Thachat Viswanath (TV) Narendran
Founded: 1907
Tata Steel is a fully integrated steel company that takes on steel production from end-to-end, mining, manufacturing, and marketing steel products. With a crude steel capacity of 35 million tonnes per annum (MTPA), Tata Steel is a powerhouse in the industry. In 2024, the India-based company was also recognized as the Sustainability Champion by Worldsteel for the seventh consecutive year.
3. Steel Dynamics
Market cap: $21.89 billion
Employees: 12,000
CEO: Mark D. Millet
Founded: 1993
Steel Dynamics was founded in 1993 in Fort Wayne, Indiana, by three former executives of Nucor—the top steel company on this list. Steel Dynamics has become America’s third-largest producer of carbon steel products, employing over 12,000 people and embracing a robust metal-recycling program. Steel Dynamics has implemented greenhouse gas emissions targets aligned with the goals of the Paris Agreement and plans to reach net-zero carbon by 2050.
2. JSW Steel
Market cap: $27.57 billion
Employees: 40,000
CEO: Jayant Acharya
Founded: 1982
JSW Steel lands second place on the list of global steel producers, with a current market cap of almost $28 billion. Headquartered in India, the company has a production capacity of 35.7 MTPA in India and the USA, which the company plans to increase to 38.5 MTPA by 2025. JSW hopes to achieve this growth sustainably, with a statement on their website acknowledging that “while many may regard JSW as part of ‘the problem,’ we think of ourselves as part of ‘the solution’ as well.”
JSW Steel recently joined the World Business Council for Sustainable Development (WBCSD) and was named Sustainability Champion by the World Steel Association for a fifth consecutive year.
1. Nucor
Market cap: $36.36 billion
Employees: 32,000
CEO: Leon Topalian
Founded: 1955
Nucor has some hefty bona fides to back up its number-one spot. Based in Charlotte, North Carolina, Nucor is the 16th largest steel producer in the world, the largest steel producer in the United States, and the largest scrap recycler in North America. Their market cap currently stands at over $36 billion. Nucor strives to reduce its environmental impact by manufacturing sustainable, circular steel—Nucor states that its steel products are made from “an average of 77.0% recycled content, with some products containing almost 100% recycled content. We also recycle more than 90% of the dust from our electric arc furnaces (EAF)”. Nucor has also set net-zero greenhouse gas targets by 2050.
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