Steel groups comment on G-20 discussion of steel overcapacity

摘要

Nine steel groups in North, South and Latin America, and Europe, today expressed cautious optimism for the outcomes at the G-20 leaders meeting that concluded earlier this week in Hangzhou, China. "We are grateful that the leaders of the G-20 governments have recognized the severe impacts that global steel overcapacity in the steel sector around the world are causing to our industry. This is an important first step, but it must be followed with concrete policy actions by governments to reduce excess capacity, end subsidies and government measures that distort markets, and guarantee a level playing field driven by market forces in the near term. We appreciate the commitment expressed in the G-20 leaders' statement for 'collective responses' to address excess capacity in the steel industry. This excess capacity and the government interventionist policies that have fueled it are the root cause of the surge of steel imports currently being experienced in many of our home markets," the industry groups said.