China’s low-cost steel threatens profitability of the global steel industry: OECD

The Chinese steel sector was in red numbers for most of 2024. The growth patches of demand from the energy transition and manufacturing industry have not been enough to cover the slackness of ownership, and the steel industry, which moves billions of tons, is heading towards another shock as barbed wires emerge at most trade borders. “The current excess capacity, of more than 50 million tons (Mt), will shoot at 250 Mt in the next ten years,” say…

The Main Country Project after NATO, EU and Schengen’, organized under the High Patronage of the President of Romania, is taking place today at the Cotroceni Palace. The Interim President of Romania, Ilie Bolojan, will open the conference, together with Prime Minister Marcel Ciolacu, and the Secretary-General of the OECD, Mathias Cormann. The event will include thematic discussion sessions on Romania’s alignment […]

During the presentation at the 97th session, the Chairman of the Committee on Steel of the OECD, Ulf Zumkley, said that the increase in Chinese low-cost steel exports threatens the profitability of the global steel industry. He explained that the overall overproduction of steel and a lower demand in the construction sector in China will have a very strong impact on the profitability of the sector, as this situation is already generating more res…