Demand weakness sparks OECD concern

Dec 17, 2008 | 11:40 AM | Diana Schwaeble

The current economic crisis and the slowdown in steel demand underscores the importance of working together for fair trade, industry leaders stressed at the Organization for Economic Cooperation and Development (OECD) Steel Committee meeting in Malaysia on Dec. 15-16.

"The OECD Steel Committee is the only forum where we can get certain subjects like capacity, subsidies and distortions discussed openly between governments," said Thomas A. Danjczek, president of the Steel Manufacturers Association (SMA), Washington.

At the meeting, the impact of the global slowdown on the raw materials market was discussed, particularly how weak demand combined with increased capacity could lead to price weakness worldwide, according to an OECD statement.....

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