Economy
October 23, 2020
Steel Groups Call for Action to Cut Global Excess Capacity
Written by Sandy Williams
Steel associations from around the globe called on steel-producing economies to intensify their work in the Global Forum on Steel Excess Capacity.
Recent increases in steel overcapacity have reversed a three-year declining trend and are of “tremendous concern” during a pandemic where steel demand is severely depressed. The associations urge participating countries in the Global Forum to renew their commitment and take stronger measures toward transparency and policy to stem the risk of potential destabilization of the international steel markets.
