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Global Overcapacity
The latest in this ongoing, worldwide problem.
Latest News
Steel Groups Offer NAFTA Recommendations
06 June 2017 - Six North American steel industry groups have issued a joint policy statement outling their wishes for a revised North American Free Trade Agreement.
As Mills Close, China's Rebar Supply Tightens Up
05 June 2017 - The irony here is rich: China is experiencing a short-term shortage of rebar, according to the Bloomberg news service.
China, EU Remain Apart on Global Overcapacity
02 June 2017 - European Union Commission President Jean-Claude Juncker said China and the EU narrowed differences over steel overcapacity and China’s insistence that it be treated as a market economy.
China Reduces Its Ability to Make Steel, But Not Its Desire
16 May 2017 - China is more than halfway to achieving its goal of cutting 50 million metric tons of crude steel capacity this year, according to Xinhua, the country’s official news agency.
Eurofer President: China’s Capacity Cut Promises Are ‘Genuine’
10 May 2017 - China will indeed cut its capacity, but a reduction in capabilities won’t necessarily lead to a reduction in output, the president of the European steel association, Eurofer, said on Wednesday, according to the Reuters news service.
March Was a Banner Month for China's Crude Steel Production
19 April 2017 - China set a new crude steel production record in March, making 72 million metric tons and besting the previous record by nearly 2%, according to the price and information service S&P Global Platts.
Thyssenkrupp joint venture would be 'high risk,' labor union says
11 April 2017 - Germany’s largest labor union is voicing disapproval of a potential joint venture between thyssenkrupp AG and Tata Steel, the Bloomberg news service reports.
Forecast: China's Steel Demand Expected to Cool Slightly This Year
30 March 2017 - The head of a Chinese metals think tank said he expects the country’s steel demand to drop 1.9 percent this year, reports the Reuters news service.
China's Hebei Steel Planning US$6B Mill Replacement
21 March 2017 - China’s largest steelmaking province has given the go-ahead to a US$6.2 billion project through which Hebei Steel Group will replace obsolete mills with new facilities – and cut capacity in the process, according to the Reuters news service.
Australian Labor Union Seeks Tariffs on Chinese Steel
27 February 2017 - Saying that dumped steel from China has cost Australian steelmakers AU$200 million over the past 12 to 18 months, Australia’s largest labor union is preparing to file a complaint with the federal government.
China Exceeds 2016 Capacity Cut Target, But Much More Remains
19 January 2017 - Although China cut up to 80 million metric tons of steel capacity last year, much of it was already idle and did little to reduce output, reports the Reuters news service.
Chinese Province Hits Steel Capacity Reduction Target
21 November 2016 - The Chinese province of Hebei has eliminated 14.62 million metric tons of steel capacity, as of the end of October, according to the Reuters news agency.
EU Looks to Strengthen Trade Measures
08 November 2016 - Some leaders in the European Union are hoping to push ahead with an effort to stiffen the union’s anti-dumping tariffs, revising them to be more in line with those imposed by the United States, reports The (London) Financial Times.
Baosteel Promises to Cut 11 Million Tons of Capacity
04 November 2016 - The China Iron & Steel Association said it will have eliminated 45 million tons of steel capacity, and likely more, by year’s end, according to the Reuters news service.
China OKs Baosteel, Wuhan Merger
31 October 2016 - China has given the go-ahead to the merger of two of its largest steelmakers, naming the top executives who will run the combined business, reports the Bloomberg news service.
Allegheny Technologies Moves to Permanently Shut Down Two Mills
27 October 2016 - Specialty metals producer Allegheny Technologies Inc. is permanently closing two idled mills in southwestern Pennsylvania, marking its exit from the grain-oriented electrical steel market and a step back from the commodity stainless market.
Canadian Legislators to Study Steel Dumping
24 October 2016 - A Canadian parliamentary committee is undertaking a study of the factors that are hindering the country’s steelmakers from competing internationally, including unfair trade.
Capacity Reduction Will Happen Later Rather Than Sooner, Says Consultant
19 October 2016 - By the time the industry closes the books on 2016, China likely will have exported about 120 million tons of steel, Steel-Insights President Becky E. Hites said on Wednesday.
Chinese Steel Production Proving Difficult to Curb
27 September 2016 - If China really intends to cut its excess steelmaking capacity, then the effort is off to a lousy start, reports the Bloomberg news service.
'It's Never Easy to Resolve This Issue,' Says OECD Steel Committee Chairman
23 September 2016 - The outgoing chairman of the Organisation for Economic Co-operation and Development’s steel committee says “many difficulties lie ahead” as the world looks for agreements to bring steelmaking capacity in line with demand.
