Leading steel companies in Russia 2022, by production

Novolipetsk Steel, or NLMK, was the leading steel company in Russia in 2022, having produced 16 million metric tons of steel. The second-largest production volume was recorded for Evraz at 12.5 million metric tons. Even though it was headquartered in the United Kingdom (UK), Evraz was founded in Russia, and Russia was one of its major regions for steel operations. The third leading producer was the Magnitogorsk Iron & Steel Works (MMK). The revenue of MMK reached nearly 11.9 billion U.S. dollars in 2021.

Russian steel industry overview

In 2021, Russia was the fifth-largest steel market after China, the European Union (EU), Japan, the United States, having produced nearly 77 million metric tons of steel. Furthermore, it is one of the largest steel exporters worldwide. The country has more than 30 steel plants, most of which are based on electric and blast furnaces.

Leading steelmakers worldwide

The world’s major steel-producing companies were China Baowu Group and ArcelorMittal (Luxembourg). They also topped the global ranking of steelmakers by revenue. Among the 10 producers with the highest crude steel production volumes, most were headquartered in China. Russian NLMK ranked 23rd, while Evraz placed 35th.