This week, steel industry professionals from throughout the globe traveled to Atlanta, Georgia to attend Steel Market Update’s annual conference. Topics such as Section 232, domestic steel capacity and the state of the industry were at the forefront of everyone’s minds.
Tuesday’s first speaker, AISI President Thomas Gibson, said that global capacity continues to be a problem. “There’s a massive overcapacity problem and China remains at the base of the problem,” he said. “China steel output soared to more than 10 times US production in 2018 and it continues to grow”
Steel Manufacturers’ Association president Philip Bell spoke about Section 232, adding that he’s happy that the administration used tools to protect the nation’s national security. “Companies are investing and bringing people back to work, modernizing mills, and building new ones,” he said, noting that 12 million tons of new EAF capacity have been announced in the past 24 months.
“This represents a modern steel industry, one that can compete with any industry in the world. I feel like it’s an exciting time for the steel industry. A lot of the administrations stated objectives with 232 have been met.”