Margin squeeze blamed on overcapacity

摘要

The world’s steel industry leaders werewarned last week that they must tacklethe issue of excess produc??on capacity ifthe industry is to survive and prosper.Sigurd Mareels of consultancy McKinsey &Co said over‐capacity is squeezingsteelmakers’ margins to the extent that65% of large steel companies worldwidehave operated with nega??ve cash flowover the past two years.