Steel associations welcome global communiqué

Recently, high-level representatives from governments around the world, along with representatives from the global steel industry, met in Brussels to address the severe overcapacity crisis afflicting the steel industry. The “High Level Meeting on Excess Capacity and Structural Adjustment in the Steel Sectorâ€? was organized by the OECD and hosted by the Kingdom of Belgium. As a result of that meeting, the governments of Canada, the European Union, Japan, Mexico, the Republic of Korea, Switzerland, Turkey and the United States issued a significant statement noting two relevant issues. First, the “challenges facing the steel industry, have an important global dimension that needs to be address through ongoing international dialogueâ€?; and, second, that “while the challenges facing the industry arise from many factors, such as structural and cyclical economic developments, government support measures have contributed to significant excess capacity, unfair trade, and distortions in steel trade flows.â€?

Steel producers from around the world welcomed this statement as an important step toward addressing the global steel excess capacity crisis. The steel associations recognized that the Brussels meetings were one step in the right direction, and urged the Chinese government to “constructively participate in future discussions at the OECD and elsewhere to address the global steel overcapacity crisis.â€?
Previous articleHumboldt research fellow chooses Max Planck
Next articleAlcoa appoints Karl as Group President EPS
Stainless Steel World Publisher
Stainless Steel World is part of The KCI Media Group, a group of companies focused on building and sustaining global communities in the flow control industries. We publish news on a daily basis and connect business-to-business professionals through our online communities, publications, conferences and exhibitions.