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Global Overcapacity
The latest in this ongoing, worldwide problem.
Latest News
Steel Capacity Continues to Outpace Need, OECD Says
01 April 2019 - Global steelmaking capacity could grow between 4% and 5% in the next three years, worsening a 425.5 million metric ton gap, according to the Organisation for Economic Co-operation and Development’s steel committee.
Let's Not Disband the Global Steel Capacity Forum, EUROFER Says
28 March 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.
Chinese Province Plans Steel Capacity Cuts
07 March 2019 - China’s northern steelmaking province of Hebei plans to lop 14 million metric tons of capacity this year and next in a bid to improve air quality, reports the Reuters news service.
Keep International Committee on Excess Capacity Going, World Steel Chairman Says
17 October 2018 - The World Steel Association’s outgoing chairman said a global body aimed at reducing excess steel capacity is making inroads and should be allowed to continue its work.
Mittal: Steel Tariffs Have Been a ‘Net Positive’ for Company
02 August 2018 - Rising steel prices and healthy demand propelled ArcelorMittal’s second-quarter profits to US$1.9 billion, its best quarterly finish since 2011. And chief executive Lakshmi Mittal is thanking one person: U.S. President Donald Trump.
Chinese Province Promises More Capacity Reductions
05 July 2018 - In a bid to reduce air pollution, China’s industrialized Hebei province said it plans to cut 40 million metric tons of blast furnace capacity over the next two years, reports the Reuters news service.
China Will Step Down Steel Capacity, Executive Says
21 May 2018 - China’s steel industry will continue to reduce capacity, lowering it to under 1 billion metric tons by 2025, said Yu Yong, president of the China Iron and Steel Association, according to the Reuters news service.
Shares of Chinese Steelmakers Notch Down on Expectations of Rising Output
14 May 2018 - Rising production and falling steel prices have taken some of the financial sparkle off of China’s iron and steel industry, which had been benefiting from healthy demand and mill closures, reports the Bloomberg news service.
Newport: Steel Tariffs Prompting Discussions About Excess Capacity
08 May 2018 - Any criticisms of the Section 232 tariffs notwithstanding, they certainly have sparked discussions among the world’s countries on excess steel capacity, AK Steel Corp. chief executive Roger Newport said Tuesday.
It's Official: Trump Imposes 25% Tariff on Imported Steel
08 March 2018 - U.S. President Donald Trump signed proclamations on Thursday imposing a 25% tariff on imported steel and a 10% tariff on imported aluminum, but left open the potential for certain countries to be exempted.
Trump on Steel Tariffs: 'We're Not Backing Down'
05 March 2018 - Here’s a look at some of the latest developments in the Trump Administration’s plans to impose a 25% tariff on imported steel and a 10% tariff on imported aluminum.
The World Reacts to President Trump's Section 232 Decision
02 March 2018 - On Thursday, U.S. President Donald Trump announced that he plans to impose a 25% tariff on imported steel and a 10% tariff on imported aluminum under a trade law that allows the preside to restrict imports in the interests of national security.
American Industry Applauds Section 232 Recommendations; the Rest of the World is Criticizing Them
21 February 2018 - U.S. steel industry representatives said they are hopeful that the Commerce Department’s recommended tariffs and quotas will effectively check steel imports and are asking President Donald Trump to make a decision soon.
U.S. Commerce Secretary Recommends Quotas, Tariffs to Control Imports
16 February 2018 - The U.S. Commerce Department has concluded that steel and aluminum imports threaten U.S. national security and should be restricted through hefty tariffs and quotas, Commerce Secretary Wilbur Ross said Friday.
Europe Has a Big Overcapacity Problem, voestalpine Executive Says
05 February 2018 - About 20% of Europe’s steelmaking capacity is redundant, and companies should look to close mills while re-orienting themselves toward greater production of higher-end steel, voestalpine AG chief executive Wolfgang Eder tells The (London) Financial Times.
For President Trump, Decision on Steel Tariffs Looms
11 January 2018 - Within the next four days, the U.S. Department of Commerce is to send to the president its much anticipated report on whether imported steel poses a threat to national security.
China Sets New Steel Capacity Rules
08 January 2018 - The Chinese government is imposing new rules on steelmakers who want to build new capacity, reports the Reuters news service.
China Scraps Steel Export Tax
15 December 2017 - China is reducing or altogether eliminating its export tax on certain steel products, a move that likely will inflame trade tensions with the U.S. and European Union, according to reports.
Steel Countries Reach Initial Agreement on Excess Capacity
01 December 2017 - Roughly three dozen nations have agreed to a set of principles addressing the world’s excess steel capacity, but some industry representatives say more action is needed to solve the problem.
Steel Summit on Overcapacity Opens Thursday
29 November 2017 - Representatives of the Group of 20 countries, along with those from certain others, are to begin a new round of talks Thursday over the world’s excess steelmaking capacity -- and America’s potential response to the problem.
