Global Steel Groups Urge the Global Forum on Steel Excess Capacity to Expand Efforts to Address Growing Steel Crisis
OTTAWA, Oct. 22, 2020 (GLOBE NEWSWIRE) — Steel industry associations in the Americas, Europe, Asia and Africa today renewed 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.
Steel industries commend the commitments taken by the members of the steel forum to create transparency in regional market and capacity evolutions and review capacity increases based on the agreed policy principles and recommendations set out in the Berlin Ministerial report.
However, the scale and persistence of excess capacity in the steel industry calls for more ambition in the transparency and policy-related work of the GFSEC.
The steel associations specifically call on participating governments of the forum to:
- Develop stronger disciplines on industrial subsidies and other support measures that contribute to excess capacity and distort markets;
- Uphold effective trade remedies to ensure a level playing field driven by market forces and fair trade;
- Deepen the analysis of the drivers of steel capacity expansions to expose subsidised or non-market driven investments;
- Make a reliable forecast for steel demand in the markets where investments are to be made;
- Add value to the transparency work by developing open communication and information to the public; and
- Communicate to G20 Leaders on the need for expanded efforts to address the growing steel excess capacity crisis.
The steel associations also call on non-participating governments to resume active participation in the GFSEC’s work. Effectively addressing the global steel crisis is in the interest of all economies, steel producers, and steel consumers worldwide, and requires the active engagement of all G20 economies.
Contacts:
AISI – Lisa Harrison, [email protected], 202.452.7115
EUROFER – Charles de Lusignan, [email protected], 0032 2738 79 35
CSPA – Catherine Cobden, [email protected], 613.238.6049
CANACERO – Salvador Quesada, [email protected], 52 (55) 5448-8162
SMA – Annie Stefanec, [email protected], 202.296.1515
Alacero – Fernanda Valente, [email protected], (55 11) 3195-5803
Brazil Steel Institute – Débora Oliveira, [email protected], 55 (21) 3445-6327 | 6300
JISF – Shigeru Hagiuda, [email protected], 81 3 3669 4835
Russian Steel – Alexey Sentyurin, [email protected] 79 153226225
Turkish Steel Producers Association – Veysel Yayan, [email protected], 90 3124663734
ESTA – François Michalet, [email protected], 33 1 41 31 56 43
AMME – Alisher Zholdybayev, [email protected], 87029141261
SAISI – Charles Dednam, [email protected], 27 12 380 0900
KOSA – Taekyung Koh, [email protected], 82 2-559-3546
Ukrmetalurgprom – Oleksandr Kalenkov, [email protected], 38 (044) 279 05 25
SSINA – Larry Lasoff, [email protected], 202.342.8530
CPTI – Tamara Browne, [email protected], 202.223.1700
CFSBI – Casey P. Bouton , [email protected], 800-459-5101
SEIFSA – Michael Ade, [email protected], 011 298 9432
Acero Argentino – Carlos A. Vaccaro, [email protected], (5411) 4311-6368 / 637
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/55e42878-f846-48e6-9cd4-9d091abf34cb
