Sept. 14, 2016

Global Steel Trade Groups Encouraged by G-20 Meeting

Nine trade groups in North America, South America and Europe expressed cautious optimism that the G-20 meeting earlier this month in Hangzhou, China, will yield some progress on the global steel overcapacity issue.

“We are grateful that the leaders of the G-20 governments have recognized the severe impacts that global steel overcapacity around the world are causing to our industry. This is an important first step, but it must be followed with concrete policy actions by governments to reduce excess capacity, end subsidies and government measures that distort markets, and guarantee a level playing field driven by market forces in the near term,” read a letter from the nine steel groups. “We appreciate the commitment expressed in the G-20 leaders’ statement for ‘collective responses’ to address excess capacity in the steel industry. This excess capacity and the government interventionist policies that have fueled it are the root cause of the surge of steel imports currently being experienced in many of our home markets,” the industry groups said.

The industry group includes representatives of the American Iron and Steel Institute, EUROFER, the Steel Manufacturers Association, the Canadian Steel Producers Association, CANACERO, Alacero, Brazilian Steel Institute, the Committee on Pipe and Tube Imports and the Specialty Steel Industry of North America.

“We are encouraged that the G-20 leaders are committed to forming a Global Forum on steel excess capacity, and that the leaders expect a continuing relationship with the Global Forum at relevant upcoming G-20 ministerial meetings. We are hopeful that the creation of a robust Global Forum, which includes participation by all major steelmaking economies, will be a substantive outcome of the meetings in Paris of the OECD Steel Committee,” the groups added.


September 2017: Numbers Don’t Add Up for Service Centers
More...
 
Pause
September 2017: Lichtenstein: Five Steel Truths that Demand Attention
More...
Fall 2016: Cutting & Sawing Equipment
More...
Summer 2017
More...
 
Pause
Advanced Controls on Braner Slitters
More...
AHVS Precision Leveler Features Flip-Top Design
More...
Formtek’s Tishken Slitter Increases Production Volume
More...
Red Bud System Handles High-Strength Steels
More...
Bradbury Launches Flat Trak CL Monitoring System
More...
Artus Knives Custom Designed
More...
 
Pause
Privacy Statement  |  Terms Of Use
Copyright by Metal Center News



Tuesday, October 24, 2017