19 steel industry associations in the Americas, Europe, Africa and Asia have today, October 22, called for the governments of steelmaking economies to step up efforts to effectively tackle persistent global excess capacity in the steel sector, including by quickly implementing strong rules and remedies that reduce excess capacity, its impact and its causes. The industry groups emphasized that governments should use all available mechanisms and negotiation forums, including the G20 Global Forum on Steel Excess Capacity.
“We are grateful for the efforts made to date by the G20 and OECD governments to address excess capacity, and to support a playing field at the G20 Global Forum on Steel Excess Capacity and OECD Steel Committee,” the industry groups said. “Unfortunately, effective reductions in capacity and concrete actions to remove government measures that distort markets, including raw materials markets, have not been adequate to date. Efforts by governments to eliminate practices that lead to excess capacity should be redoubled. We are hopeful that the diligent efforts of Japan, the current G20 Chair, are successful in extending the G20 Global Forum on Steel Excess Capacity beyond 2019, and we urge all G20 and OECD steelmaking economies to pursue all vigorous means to obtain substantive results on the critical problem of steel excess capacity.”
The steel industry groups issuing the call for urgent action include representatives of: the Steel Manufacturers Association (SMA), the American Iron and Steel Institute (AISI), EUROFER (European Steel Association), Canadian Steel Producers Association (CSPA), CANACERO (the Mexican Steel Association), Alacero (the Latin American Steel Association), Brazil Steel Institute, Turkish Steel Producers Association, Republican Association of Mining and Metallurgical Enterprises (AMME), The Japan Iron and Steel Federation (JISF), European Steel Tube Association (ESTA), Korea Iron and Steel Association (KOSA), Specialty Steel Industry of North America (SSINA), South African Iron and Steel Institute (SAISI), the Cold Formed Steel Bar Institute (CFSBI), Association of Enterprises UKRMETALURGPROM (Ukraine), Russian Steel Association, Indian Steel Association, and the Committee on Pipe and Tube Imports (CPTI).