European steel association Eurofer is urging the Global Forum on Steel Excess Capacity (GFSEC) to intensify efforts to tackle global steel overcapacity.
The forum, comprising the G20 group of developed nations and the Organisation for Economic Cooperation & Development (OECD), held its most recent meeting on July 8-9, with steel stakeholders meeting earlier this week, on July 7. Eurofer has called the government-led Forum to intensify its work, pointing out that Europe has been trimming its capacity in past years while other regions were expanding their export-oriented output. "The EU steel industry had already reduced its steel capacity by over 22 million tonnes during the past 10 years while at...