Economy
June 16, 2015
Steel Organizations Call for Action on China Steel Overcapacity
Written by Sandy Williams
A joint statement by eight steel trade associations calls for immediate action in addressing steel overcapacity and the increase in subsidized exports from China. The statement below has been issued by the following organizations: AISI, SMA, CSPA, SSINA, CPTI, Canacero, Alacero, Eurofer and the Turkish Steel Producers Assn and Brazilian Steel Institute.
“There is a strong consensus against the rising tide of exports from state-owned, supported or controlled steel industries, as was once again demonstrated at the recent meeting of the Organization for Economic Cooperation and Development’s (OECD) Steel Committee in early May. The reports shared at the meeting in Paris by the national steel industry associations from Asia, the Americas and Europe were striking in their similarity: a new normal has taken hold, characterized by slowed growth, with all regions suffering from a dramatic increase in unfair steel imports that is fueled by massive global overcapacity. Looming over it all is China, whose massive and increasing overcapacity in an era of slowing growth has already destabilized the global steel market and trade flows.
