OECD steel meet wraps up with overcapacity warning
Dec 11, 2009 | 12:32 PM
| Kevin Foster
The global steel industry might face a period of widening excess capacity during the next few years, the Organization for Economic Cooperation and Development (OECD) Steel Committee warned as it wrapped up its annual meeting in Paris.
The steel industry is gradually emerging from one of the worst downturns in decades but faces challenging years ahead as it looks to match production to demand, manage a shift to emerging economies and deal with structural changes caused by climate-change policies, the committee said.
It might take three to four years for consumption to reach pre-crisis levels in some OECD economies, and while the situation in many emerging economies is more favorable world demand might have shifted to a lower level, it said. Despite this, steelmaking capacity hasn't adjusted accordingly and global capacity might exceed demand "by a wide margin" through to 2012.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.