High-level meeting on excess capacity in steel sector, Monday 18 April, Palais D’Egmont, Brussels

Tags:
2016-04-12

With a serious export glut weighing on the global steel sector, ministers, senior officials and private sector representatives from around 30 countries including China, Japan, Germany, India, the UK and the US will meet with EU, WTO, OECD and World Steel Association representatives on Monday 18 April in Brussels to seek solutions to the overcapacity crisis.

Hosted by the Belgian government and the OECD, the full-day meeting will discuss how governments can facilitate market-driven industry restructuring and aims to agree on steps to reduce competition-distorting policies. Overcapacity in steel was above 700 million metric tons at the end of 2015, and new plants are set to add another 47 mmt by 2018, according to OECD analysis. Meanwhile steel consumption is expected to have declined last year.

Source: Organization for Economic Co-operation and Development

  • 281 reads