5 Largest Pig Iron Producing Countries

1. China 

Production of Pig Iron in 2022: 830 million tons

China alone accounts for around 63.8% of the total pig iron produced in the world. However, the country is also the largest steel manufacturer in the world and so to satisfy the immense local demand, the country still remains a net importer of pig iron, with a negative trade balance of $766 million in 2021.

China is the second-largest importer of pig iron in the world, after the U.S., with most of its imports coming from Brazil. China witnessed a decrease of 2.1% in the production of pig iron in 2022 as compared to 2021, when it stood at 869 million tons. This is mainly due to the 4% decrease in the demand of steel in the country in 2022, due to its economic conditions and extended Covid-19 mitigation strategies. 

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