Visualizing Raw Steel Production in 2023
June 20, 2024

By  Article/Editing: Bruno Venditti Graphics/Design: Sam Parker

Visualizing Raw Steel Production in 2023


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Steel is essential for the economy due to its crucial role in infrastructure, construction, manufacturing, and transportation sectors.


This graphic breaks down the estimated global production of raw steel in 2023. The data was sourced from the U.S. Geological Survey as of January 2024.


China Produces More Than Half the World’s Steel


One major issue facing the steel industry is overcapacity in top producer China.


Steel production in China has surpassed demand in recent years, leading to downward pressure on the profit margins of steel mills worldwide.


Historically, China’s troubled real estate sector has accounted for over one-third of the country’s steel consumption. To address this issue, the Chinese government has mandated steel production cuts since 2021.


Far behind China, India is the second-biggest producer of steel, followed by Japan.

Country Region 2023 Production (million tonnes)
🇨🇳 China Asia 1,000
🇮🇳 India Asia 140
🇯🇵 Japan Asia 87
🇺🇸 U.S. North America 80
🇷🇺 Russia Europe 75
🇰🇷 S. Korea Asia 68
🌍 Rest of World 420
Total 1,870

Infinite Recyclability


Steel is an alloy primarily composed of iron ore containing less than 2% carbon, 1% manganese, and other trace elements. It is 1,000 times stronger than iron and can be recycled over and over without sacrificing quality.


Steel is widely used in various industries. It is a fundamental material in construction, providing support through beams, internal structures, and roofing.


Moreover, steel’s corrosion-resistant properties make it ideal for water infrastructure. Stainless steel pipes are the preferred choice for underground water systems, ensuring longevity and purity in water transportation.

Additionally, most canned foods are stored in steel containers for preservation, as steel does not rust.


Copyright © 2024 Visual Capitalist

VVC Exploration Corporation Files Annual Financial Statements

August 19, 2026
TORONTO, Aug. 19, 2026 - VVC Exploration Corporation, dba VVC Resources (“VVC” or the “Company”) (TSX-V: VVC and OTCQB: VVCVF) is providing an update to its previous news release dated May 21, 2026, regarding the status of its delayed annual financial filings. The annual financial statements and the Management's Discussion and Analysis ("MD&A") for the year ended January 31, 2026 were filed on SEDAR+ on August 18, 2026. With the Year-end Financials completed, the Company is working diligently on preparing the financial statements and MD&A for the three months ended April 30, 2026 (collectively the "Interim Financials"). The Company expects to be able file the Interim Financials prior to August 31, 2026. As such, the Failure-to-File Cease Trade Order ("FFCTO") against the Company will remain in place until such time as the Company's Interim Financials and related officer certifications are filed on SEDAR+. The delay in completing the Required Filings resulted from additional time required to finalize certain accounting and financial reporting matters in connection with the Company's year-end reporting process. About VVC Resources VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Gold & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC). To learn more, visit our website at: www.vvcresources.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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