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Novolipetsk Steel, or NLMK, was the leading steel company in Russia in 2024, having produced **** million metric tons of steel. The second-leading producer was the Magnitogorsk Iron & Steel Works (MMK), whose revenue reached over *** billion Russian rubles in 2023. The fourth-largest production volume was recorded for Evraz at **** 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 largest steel exporters worldwide. The country has more than ** 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 **th.