The United States was the world’s largest steel producer for much of the 20th century. United States Steel, formed in 1901 by J.P. Morgan around Andrew Carnegie’s steel business, was the first billion-dollar corporation. Integrated producers in Pittsburgh, the Great Lakes and the Midwest dominated the industry until the 1970s. Then high costs, ageing plant and import competition brought a long decline and a wave of bankruptcies.
The recovery came from the electric arc furnace minimill. Nucor, originally the Nuclear Corporation of America, pioneered low-cost scrap-based production and opened the first thin-slab casting flat-rolled mill at Crawfordsville, Indiana, in 1989. Commercial Metals built a network of rebar minimills and fabrication businesses. EAF producers now account for around 70% of US steel output. In 2025 US Steel was acquired by Nippon Steel, with a ‘golden share’ retained by the US government.
In South America, Gerdau grew from a nail factory in Porto Alegre, founded in 1901, into one of the largest long-steel producers in the Americas. Techint, founded in 1945 by the Italian engineer Agostino Rocca, built the Tenaris seamless tube business and the Ternium flat steel group, now leading producers across Argentina, Mexico and Brazil.
North America
United States. Founded by J.P. Morgan ($1.4B), 1901. Around 14 Mt in 2024, world #29.
United States. Nuclear Corporation founded, 1940. Around 21 Mt in 2024, world #16.
United States. CMC founded in Dallas, 1915. Over 7 Mt a year.
South America
Brazil. Pontas de Pregos factory established, 1901. Around 13 Mt in 2024, world #33.
Argentina. Techint founded by Agostino Rocca, 1945. Around 14 Mt in 2024, world #28.
Current News
For today’s developments at these companies, see our free North American steel news and South American steel news.