In the period of consideration, steel production in the United States fluctuated considerably. In particular, the production level decreased from 87.8 million in 2019 to 72.7 million metric tons in 2020 due to the narrowing down effects of the coronavirus pandemic on the American metal industry. The following year, the manufacturing level rose to 85.8 million metric tons before declining to 82 million in 2022.

The U.S. steel market Since 2009, annual iron and steel manufacturing in the United States has increased from more than 70 billion U.S. dollars in revenue to 101 billion U.S. dollars in 2014. Still, the U.S. is among the Top 5 crude steel-producing countries, with a production level between 70 and 97 million metric tons from 2020 to 2022. One of the largest steel producers in the United States is the North-Carolina-based Nucor Corporation. In the 2022 financial year, the steel producer recorded some 41.5 billion in revenue. In a global comparison of crude steel producers, Nucor was ranked sixteenth in 2022, producing around 20.6 million metric tons of crude steel. Global steel production Over the last several years, the global production of crude steel has experienced consistent growth. Since 2003, annual crude steel production increased from 971.02 million metric tons to roughly 1.9 billion metric tons in 2022, despite a dip in global demand in 2020 due to the coronavirus pandemic. China was the leading crude steel producer in 2022, holding more than half of the global market compared to other countries and regions. In particular, China Baowu Group, the world's larger steel maker, produced 131.8 million metric tons in 2022.

Steel Production in the United States decreased to 6600 Thousand Tonnes in April from 6700 Thousand Tonnes in March of 2025. This dataset has Steel Production values for United States.

The production of crude steel in the United States over the past decade oscillated generally within the 80 millions. In 2020, the total production of crude steel in the United States was around 72.73 million metric tons. This was the lowest volume recorded during the reported period, and represented a year-over-year slump of over 17 percent. By 2021, production had rebounded to 85.79 million metric tons, close to pre-pandemic levels.

Employment in the U.S. iron and steel industry has seen a continuous decline over the past three years, but employment figures have shown some signs of recovery of late. The number of employees working in blast furnaces and steel mills increased moderately to 83,000 in 2019.

 The importance of being an importer    

Nucor and U.S. Steel Corporation are the largest producers of steel in the United States. At the end of 2018, these two companies had some 55,000 employees on their payrolls, some 17,000 of which were employed by U.S. Steel in the United States. Nucor employs most of its workforce in the U.S., although the company has some facilities in Canada, Latin America, Europe, and Dubai. Iron and steel workers in the United States process large quantities of iron, which is the main material used in the manufacture of steel. The main producers of usable iron ore include Australia and Brazil. The U.S. has to rely on iron imports due to the low level of domestic production. As a result, the United States imported almost 31 million metric tons of steel in 2018.

Graph and download economic data for Output per Worker for Manufacturing: Iron and Steel Mills and Ferroalloy Production (NAICS 33111) in the United States (IPUEN33111W001000000) from 1988 to 2024 about ferroalloy, iron, output, mills, steel, NAICS, IP, production, manufacturing, employment, and USA.

Between 2018 and 2028, the number of Americans employed in the steel manufacturing industry is projected to decline: the iron and steel mills category in particular has already seen a significant reduction in headcount between 2008 and 2018 by some 16.3 percent. The number of jobs in this subsector is expected to fall to 70,100 in 2028.

US iron and steel manufacturers, who are estimated to generate $108.4 billion in revenue for 2025, face a complex financial landscape after several years of fluctuating performance. While the industry has demonstrated a current period growth of 3.7% CAGR, the current year growth is estimated at 3.6%. Lower revenues in recent years were linked to depressed steel prices, caused by oversupply, sluggish demand in the construction and automotive sectors, and import competition. However, early 2025 has seen an uptick in prices driven partly by tariffs on imported steel, providing a glimmer of hope for improved earnings and profit, even as stricter EPA regulations on air quality and hazardous pollutants raise compliance costs. Characterized by a mix of large integrated producers and smaller specialized mills, the industry's structure is being reshaped by tariffs on foreign steel. While tariffs are boosting domestic manufacturers by creating a more favorable environment for domestic investment and job creation, they are also driving up costs for downstream industries such as automakers and construction firms. These tariffs, imposed to protect domestic producers, have contributed to higher US steel prices, even as manufacturers navigate increasingly stringent environmental regulations. The EPA's tougher air quality standards, targeting emissions from steelmaking processes, require costly investments in new equipment and process upgrades. As a result, the industry faces a complex landscape of trade tensions and varying profit impacts across different sectors. Looking ahead, the industry is expected to see growth stimulated by projected expansion in the domestic economy and large-scale federal infrastructure investments. Government initiatives, particularly those tied to infrastructure projects with “Buy America” provisions, are expected to bolster demand for domestically produced steel. The industry is projected to achieve a 1.7% CAGR through 2030, reaching $117.8 billion in revenue. Rising demand for green steel will also accelerate technology investments and transform production processes. Steelmakers will need to invest in expanding capacity, modernizing facilities and adopting advanced manufacturing technologies to meet anticipated demand and comply with evolving environmental standards.

Expert industry market research on the Iron & Steel Manufacturing in the US (2002-2031). Make better business decisions, faster with IBISWorld's industry market research reports, statistics, analysis, data, trends and forecasts.

In 2023, the United States exported just under 8.9 million metric tons of semi-finished and finished steel products, up from 8.32 million metric tons registered in the previous year. During the given period, the export level of such products fluctuated considerably and peaked at approximately 13.6 million metric tons in 2012.

Graph and download economic data for Unit Labor Costs for Manufacturing: Iron and Steel Mills and Ferroalloy Production (NAICS 3311) in the United States (IPUEN3311U101000000) from 1988 to 2024 about ferroalloy, unit labor cost, iron, mills, steel, NAICS, IP, production, manufacturing, and USA.

Table of U.S. exports of steel mill products for all steel mill products by quantity in metric tons.

Graph and download economic data for Capital Costs for Manufacturing: Steel Product Manufacturing from Purchased Steel (NAICS 3312) in the United States (IPUEN3312C021000000) from 1988 to 2021 about cost, purchase, steel, NAICS, capital, IP, production, manufacturing, and USA.

As of 2021, a total of around 143,000 people were employed in the iron and steel industry in the United States. This number had increased by five percent compared to the previous year when the total employment declined due to the COVID-19 pandemic. In 2021, employment in the iron and steel mills represented around 60 percent of the total employment in the sector, amounting to 86,000 workers.

The U.S. steel market trends downward

Due to the COVID-19 crisis, the country's monthly crude steel demand decreased in 2020, reaching record lows from April to June of that year, when U.S. demand for crude steel was under five million metric tons. Trade played an important part in the U.S. steel industry that same year. The country continued its steel trade deficit but managed to narrow the gap slightly amid lower demand. Imports for consumption of steel products reached close to 17 billion U.S. dollars, with Canada being the main country of origin.

Employment in the sector North Carolina-based Nucor was one of the world’s largest crude steel producers in 2020, producing around 22.69 million metric tons of the metal. The company's global number of employees climbed to some 26,800 people in 2019, with most of the company’s workforce being based in the U.S. Nucor was the leading steel producer in the country, followed by the U.S. Steel Corporation. In 2020, the U.S. Steel Corporation recorded 14,582 employees in North America.

United States Production: Raw Steel data was reported at 82,000,000.000 Metric Ton in 2017. This records an increase from the previous number of 78,500,000.000 Metric Ton for 2016. United States Production: Raw Steel data is updated yearly, averaging 80,550,000.000 Metric Ton from Dec 1900 (Median) to 2017, with 118 observations. The data reached an all-time high of 137,000,000.000 Metric Ton in 1973 and a record low of 9,240,000.000 Metric Ton in 1900. United States Production: Raw Steel data remains active status in CEIC and is reported by United States Geological Survey. The data is categorized under Global Database’s USA – Table US.WA001: Production.

In 2024, US Steel Kosice faced a tough year with a 12.8% drop in production and significant sales decline, impacting their financial results.

China Steel: Production: Year to Date: Crude Steel data was reported at 1,013,003.000 Ton th in Dec 2022. This records an increase from the previous number of 935,113.000 Ton th for Nov 2022. China Steel: Production: Year to Date: Crude Steel data is updated monthly, averaging 320,525.400 Ton th from Jan 2002 (Median) to Dec 2022, with 239 observations. The data reached an all-time high of 1,052,999.200 Ton th in Dec 2020 and a record low of 13,677.600 Ton th in Jan 2002. China Steel: Production: Year to Date: Crude Steel data remains active status in CEIC and is reported by China Iron and Steel Association. The data is categorized under China Premium Database’s Metal and Steel Sector – Table CN.WAD: Steel Production. contact us

Learn about the projected upward trend in the United States steel market over the next decade, driven by increasing demand for raw steel and semi-finished products. By 2035, the market volume is expected to reach 87M tons with a value of $215.3B.

Graph and download economic data for Hours Worked for Manufacturing: Iron and Steel Mills and Ferroalloy Production (NAICS 331110) in the United States (IPUEN331110L201000000) from 1988 to 2024 about ferroalloy, iron, mills, steel, NAICS, IP, hours, production, manufacturing, and USA.

CN: Steel: Production: YoY: ytd: SP: Bar data was reported at -8.100 % in Dec 2022. This stayed constant from the previous number of -8.100 % for Nov 2022. CN: Steel: Production: YoY: ytd: SP: Bar data is updated monthly, averaging 12.900 % from Jan 2004 (Median) to Dec 2022, with 207 observations. The data reached an all-time high of 30.900 % in Jan 2004 and a record low of -14.700 % in Jul 2022. CN: Steel: Production: YoY: ytd: SP: Bar data remains active status in CEIC and is reported by China Iron and Steel Association. The data is categorized under China Premium Database’s Metal and Steel Sector – Table CN.WAD: Steel Production. contact us

Graph and download economic data for Capacity Utilization: Manufacturing: Durable Goods: Iron and Steel Products (NAICS = 3311,2) (CAPUTLG3311A2S) from Jan 1972 to Apr 2025 about capacity utilization, capacity, iron, steel, durable goods, goods, manufacturing, indexes, and USA.