Today, SSINA joined steel industry associations in the Americas, Europe, Asia and Africa to renew their call for governments of steel-producing economies to intensify their work in the Global Forum on Steel Excess Capacity (GFSEC).
Steel industries throughout the world expressed tremendous concern about the recent increase in steel overcapacity at a time when steel demand is severely depressed by the COVID-19 pandemic, reversing a trend of gradual decreases in overcapacity in the three years after the GFSEC was established (2016 – 2019).
The associations noted the uneven state of recovery in macro-economic conditions and steel production across the world and are particularly concerned about a risk of potential destabilisation of international steel markets.
The full letter can be viewed here.
