Global Overcapacity
The latest in this ongoing, worldwide problem.
Latest News
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.
China's Steel Capacity Forecast to Fall Below 1 Billion Tons
08 November 2017 - China’s government-mandated production curtailments are forecast to reduce hot metal production by 41 million net metric tons and coke demand by 18 million net metric tons, according to an estimate from commodities consultancy CRU.
Chinese Province Cuts Steel, Coal Capacity
03 November 2017 - The Hebei province in China has cut 46.2 million metric tons of iron and steel capacity and 10.5 million metric tons of coal capacity, meeting its mandated reduction target, according to Xinhua, China’s state news agency.
Report: The World Still Has Too Much Steel Capacity
11 October 2017 - The steel industry has about 330 million metric tons of capacity to spare, with more set to come on-line within the next two years, reports the Reuters news service.
Germany Organizes Meeting to Discuss Steel Overcapacity
06 October 2017 - Germany has called a meeting with other top steelmaking countries to discuss global overcapacity, according to the Reuters news service.
USW Again Calls On Trump to Impose Steel Tariffs
25 September 2017 - Citing ArcelorMittal’s decision to halt plate rolling at its Conshohocken, Pa., USA, plant, the United Steelworkers union is issuing a new call to the Trump administration to complete its national security review of steel imports.
China Looks to Cut Pollution – By Reducing Steel Output
25 September 2017 - To curb pollution, China is preparing to initiate a first wave of steel production cuts that will reduce output at its largest steelmaking city by half, reports the (London) Financial Times.
Tata, thyssenkrupp Set Framework for Combining Steel Operations
20 September 2017 - Tata Steel and thyssenkrupp have signed a preliminary agreement to combine their European steel operations, creating a 50-50 joint venture that would be Europe’s second-largest steelmaker behind ArcelorMittal.
ArcelorMittal to Cease Rolling Plate at U.S. Mill
19 September 2017 - ArcelorMittal USA said it will idle the plate rolling line at its Conshohocken, Pa., mill sometime in the next year on account of low demand and competition from unfairly traded imports.
Report: Trump Twice Said No Deal to China on Offer to Reduce Steel Capacity
29 August 2017 - U.S. President Donald Trump apparently wants tariffs on imported Chinese steel so much so that he rejected an offer from Chinese leaders for additional capacity cuts, reports the (London) Financial Times.
U. S. Steelmakers Make the Case for Import Restrictions Directly to Trump
24 August 2017 - Top executives at 25 American steel companies have appealed directly to President Donald Trump for relief from imported steel.
IMF: China's Steel Capacity Reductions Have Had 'Muted' Impact
15 August 2017 - The International Monetary Fund said China’s efforts to cut excess steel and coal capacity have had a "muted" impact on its production and that the country could stand to make more aggressive cuts.
USW to Trump: Get on With It Already
27 July 2017 - In regard to the Trump administration’s decision to delay action on new steel trade measures, the United Steelworkers union has this much to say: “What are you waiting for?”
Imposing Section 232 Measures Could Start Trade War, Critics Say
18 July 2017 - U.S. President Donald Trump is being warned that he could wind up instigating a trade war and upending the global trading system if he imposes restrictions on steel imports in the name of national security, reports The Hill newspaper.
Trump: Maybe I'll Set Both Steel Tariffs and Quotas
13 July 2017 - U.S. President Donald Trump said he might impose both tariffs and quotas on steel imports to keep volumes of foreign steel in check.
Economists To Trump: Don't Impose Section 232 Steel Tariffs
12 July 2017 - A group of economists who all served as U.S. presidential advisers are warning that new restrictions on imported steel could harm relationships with allies and damage the economy.
European Union Prepared to Launch Retaliatory Trade Measures at U.S.
07 July 2017 - European Commission President Jean-Claude Juncker reiterated promises that the E.U. would retaliate against the U.S. if it moves to impose new unilateral steel import restrictions.
EUROFER Urges U.S. to Rethink Steel Import Strategy
06 July 2017 - With the Group of 20 summit set to begin Friday in Germany, the European Steel Association is calling on member nations to renew commitments to free and fair trade – and on the U.S. to think carefully about imposing restrictions on European steel imports.
Report: Trump Wants Steel Tariffs. The Rest of His Administration Doesn't.
30 June 2017 - U.S. President Donald Trump and a few of his advisers are “hell-bent” on imposing steel tariffs, despite the objections of many others in his administration, according to the online publication Axios.
