Abstract <p>We have identified patterns and assessed the competitive advantages of the development of Russian business in the metallurgical sector of the country’s economy. A comparative analysis of domestic steel production has been conducted with similar production in the leading countries of the world metallurgy. Based on an analysis of retrospective information about market concentration and liquid steel production indicators in the Top-10 countries, as well as the gross domestic product of these states from 2009 to 2023, we obtained data to evaluate the potential development opportunities for business in the metallurgical sector of both the domestic and global economy. Estimated indicators of competitive relations in the Russian steel production sector have been established. They correspond to production in the Top-10 countries according to direct competition measures, i.e., absolute entropy, and indirect ones, such as the Herfindahl–Hirschman index, for the years 2009–2023. A general trend toward monopolization in the production and economic sphere of the metallurgical sector of the global economy is identified, and the prospects for positive positioning of the domestic steel cluster in the global development of metallurgy are evaluated.</p>