POSCO continues to lead as the world's most competitive steelmaker for 15 years

POSCO, the largest steelmaker in South Korea, has been ranked as the world's most competitive steelmaker for the 15th time in a row, according to the 2024 global industry report published by World Steel Dynamics (WSD). In its annual report, which evaluates 35 steel companies worldwide, WSD gave POSCO a score of 8.62 out of 10, consolidating its place at the top.

In the WSD report, steel companies were ranked based on 23 different criteria. These criteria include important factors such as technological innovation, production scale, cost reduction, financial stability, environmental sustainability, and market reach. Other important aspects evaluated include manufacturing efficiency, workforce management, market share, supply chain management, and risk mitigation. These criteria are key in assessing the competitiveness, efficiency, and sustainability of steel firms globally.

The world's most competitive steelmakers in 2024:

1. POSCO (South Korea)

2. Nucor Corporation (United States)

3. Nippon Steel Corporation (Japan)

4. ArcelorMittal (Multinational)

5. Baowu Steel (China)

6. Steel Dynamics, Inc. (United States)

7. Tata Steel (Europe)

8. JSW (India)

9. CSC (Taiwan)

10. Ternium (Mexico)

Differences between 2023 and 2024 rankings

The top five in both years were POSCO, Nucor Corporation, Nippon Steel Corporation, ArcelorMittal, and Baowu Steel. However, JFE Steel, which ranked 7th in 2023, and Cleveland Cliffs, which ranked 8th, were not included in the 2024 list. Tata Steel and CSC were included in the top 10 instead. In addition, Austria's Voestalpine, which was in 10th place in 2023, could not find a place on the 2024 list.