Global steel industry calls on governemtns to take action against China's new steel policy and overcapacity

摘要

There is 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 similiarity: 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.