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Pistol Bay Mining (TSX-V: PST)

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Pistol Bay snapshot

Pistol Bay Mining Inc. (TSX-V:PST) is a diversified junior Canadian mineral exploration company with a focus on precious and base metal properties in North America. Pistol Bay has a past-producing graphite project in Ontario along with projects in the Red Chris copper/gold and Athabasca Basin uranium camps.

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Visualizing Raw Steel Production in 2023

China produces more than half the world’s steel.

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Voronoi graphic showing top raw steel producers in 2023.

Visualizing Raw Steel Production in 2023

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

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.

CountryRegion2023 Production (million tonnes)
🇨🇳 ChinaAsia1,000
🇮🇳 IndiaAsia140
🇯🇵 JapanAsia87
🇺🇸 U.S.North America80
🇷🇺 RussiaEurope75
🇰🇷 S. KoreaAsia68
🌍 Rest of World420
Total1,870

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.

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