Gleaming new coils of finished steel are stored, ready to be sent to customers, at a steel production workshop operated by Baogang Group. [Photo/Baotou Daily]

Baogang Group – based in Baotou city in North China's Inner Mongolia autonomous region – was recently ranked 23rd among global steel companies by the World Steel in Figures 2021 report, released by the World Steel Association.

The report shows that in 2020, the world's total crude steel output was 1.88 billion metric tons, with China accounting for 56.7 percent and the world's total finished steel consumption was 1.77 billion tons, with China accounting for 56.2 percent.

In the global steel company output rankings for 2020, 29 Chinese steel companies were among the top 50.

Baogang Group, founded in 1954, is one of the oldest iron and steel manufacturers in China and has a major plant located in Baotou. It is also the country's biggest scientific research and production center for rare earth metals.

In 2020, Baogang Group produced 15.61 million tons of steel, ranking 23rd among global steel companies and 14th among the shortlisted Chinese steel companies.