GLOBAL STEEL INDUSTRY STRUGGLE WITH EXCESS CAPACITY, RESTRICTIVE TRADE: OECD STEEL COMMITTEE

The global steel industry continues to faces significant financial difficulties, exacerbated by excess capacity and restrictive trade policies, according to the Organisation for Economic Co-operation & Development's (OECD) steel committee, following a two-day meeting in Paris ending today (Friday).The situation is so dire that "the financial performance of the industry could be viewed as worse now than during the crisis of the late 1990s," according to a statement from committee chairman Risaburo Nezu. "Excess capacity has reached very high levels, the ...


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