Let's Not Disband the Global Steel Capacity Forum, EUROFER Says
03/28/2019 - The European Steel Association (EUROFER) is urging the world’s steel-producing countries to allow the Global Forum on Steel Excess Capacity to continue its work.
"(The forum’s) work has already produced results, such as detailed statistics on steel capacity and production around the world, and has instigated work to cut excess capacity where it is needed most," said Axel Eggert, the association’s director general.
"Continued international work on excess capacity and related government support measures would contribute to the sustainability of our global industry," he said.
His comments come as the forum's mandate is set to expire later this year. It is meeting today and Friday in Paris.
The forum was established in late 2016 at the behest of G20 Leaders. It is tasked with gathering data and information relative to steel supply and demand, production capacity, and government policies that encourage excess capacity.
Eggert said the need for the forum is great.
"Not renewing the mandate of the global forum would mean abandoning the global steel industry when it is still at a perilous juncture. Effective multilateral cooperation is needed in order to preserve fair and free trade in this essential sector."
"Continued international work on excess capacity and related government support measures would contribute to the sustainability of our global industry," he said.
His comments come as the forum's mandate is set to expire later this year. It is meeting today and Friday in Paris.
The forum was established in late 2016 at the behest of G20 Leaders. It is tasked with gathering data and information relative to steel supply and demand, production capacity, and government policies that encourage excess capacity.
Eggert said the need for the forum is great.
"Not renewing the mandate of the global forum would mean abandoning the global steel industry when it is still at a perilous juncture. Effective multilateral cooperation is needed in order to preserve fair and free trade in this essential sector."
