Leading steel companies in Russia 2023, by production

Novolipetsk Steel, or NLMK, was the leading steel company in Russia in 2023, having produced over 14 million metric tons of steel. The second-leading producer was the Magnitogorsk Iron & Steel Works (MMK), whose revenue reached over 763 billion Russian rubles in 2023. The fourth-largest production volume was recorded for Evraz at around 10 million metric tons. Even though it was headquartered in the United Kingdom (UK), Evraz was founded in Russia, and the country was one of its major regions for steel operations.

Russian steel industry overview

Russia is one of the leading steel-producing markets along with China, the European Union (EU), the United States, Turkey, and Japan, having produced over 71 million metric tons of steel in 2022. 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 are China Baowu Group and ArcelorMittal (Luxembourg). They also top 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 28th while MMK placed 32nd.