Steel firm drops in world rankings

THE Indian owner of Scunthorpe's Corus steelworks, Tata Steel, has fallen two places in the world steel production league table.

The annual compilation of crude steel production figures, published by the Steel Business Briefing publication, shows the Indian company fell from eighth place to 10th in the latest rankings.

The figures revealed the company's fall after a 13.5 per cent reduction in steel production in 2009 compared to 2008.

The table shows ArcelorMittal as the world's top steel produce despite a fall of 29 per cent in its production while Chinese mills Hebei and Baosteel rank second and third place.

Tata Steel and Corus both declined to comment on the new figures.

Roger Manser, Steel Business Briefing's managing editor, believes 2010 will see similar results.

He said: "In 2010, I expect the top three to remain unchanged – ArcelorMittal at number one and Hebei and Baosteel as numbers two and three, though Baosteel is clearly keen on making an overseas purchase.

"However, they will be followed in the top quintet by Posco and one or both of Nippon and JFE, the top two Japanese companies.

"Wuhan, currently number five, is perhaps less acquisitive than some of the other Chinese conglomerates, and so may fall to number six."

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