Economy
April 19, 2016
Lots of Talk but No Action at Brussels Steel Meeting
Written by Sandy Williams
Steel producing nations meeting in Brussels on Monday failed to agree on measures to confront the world’s excess steel capacity problem. The meeting, organized by the OECD, brought together ministers and trade officials from 30 countries who only could agree that overcapacity needs to be dealt with swiftly and in a structured manner.
China took the brunt of blame for excess capacity, producing more than half the world’s steel while consuming less than 40 percent of it and dumping the rest in nations around the globe.
