Evolution of the Global Steel Industry (1967–2023): China as the Driving Force

From 2000 to 2023, crude steel production in Canada, Europe, Japan, and the U.S. collectively declined by 19%, while global production increased by 140%. China experienced a remarkable 722% surge, contributing 81% to the global increase in crude steel production during this period. This shift underscores a significant transition of global production from developed countries to China. By 2023, China accounted for 54% of the world's crude steel production.