Top Five Investment Locations
| Rank | Location | Country | Value (US$bn) |
|---|---|---|---|
| 1 | Alabama | USA | 2.03 |
| 2 | Magnitogorsk | Russia | 1.65 |
| 3 | Cherepovets | Russia | 1.57 |
| 4 | Salzgitter | Germany | 1.12 |
| 5 | Novolipetsk | Russia | 0.87 |
Note: Data as of Q4 2025, for facilities commissioned between 2020–2025. All values are in 2025 US dollars. Source: MCI capex cost database. Popularity of Alabama arises from AM/NS investments in Calvert.
| Rank | Location | Country | Number of Projects |
|---|---|---|---|
| 1 | Osmaniye | Turkey | 9 |
| 2 | Alabama | USA | 4 |
| 3 | Magnitogorsk | Russia | 4 |
| 4 | Cherepovets | Russia | 4 |
| 5 | Salzgitter | Germany | 4 |
Source: MCI analysis. Data as of Q4 2025, for equipment with start-up between 2020–2025. Further information: steel capex costs report. Popularity of Turkey's Osmaniye location arises because of 5 different investments over the period in photovoltaic power generation. Readers should note that popularity rankings are influenced not just by the commercial attractiveness of the various locations shown. Indeed, the transparency of the steel industry investors making investment disclosures also has a significant bearing on the assessments shown.
A database of over 1,300 iron and steel sector investment projects is available for purchase from MCI (either for selected modernisations, or as the complete database). The analysis comprises a spreadsheet that lists the country, investor, plant, location, facility, $ investment cost, capacity [where available] etc – for sample see capex database format.
Coverage of plant and equipment includes sinter, coke, DRI, blast furnaces, BOF, EAF steelmaking, induction furnaces, continuous casting (billet, bloom, slab), plate, hot rolled coil, cold rolled coil, hot dip galvanised sheet, tinplate, organic coated sheet, heavy sections, rail, steel bar, rod, wire, welded pipe, seamless tube.
It also includes pellet plant, coal washing plant, lime plant, PCI, pig iron desulphurisation. Additionally it includes BF relines, ladle furnaces, vacuum degassing, air separation units, power plants, slitting lines, pickling plant, waste water treatment plant, acid regeneration plants, service centres etc.