The Organization for Economic Cooperation and Development (OECD) says that global steelmaking capacity decreased for the second consecutive year in 2017. Its latest report on the topic suggests, however, that the latest “… modest decrease still falls short of alleviating global overcapacity." The organisation also foresees significant additional steelmaking capacity either being implemented or planned between 2018 and 2020.

Global steelmaking capacity (in nominal crude terms) has decreased for the second consecutive year in 2017 based on the latest available data (up to December 2017). The OECD has revised down its 2016 and 2017 figures for world steelmaking capacity from 2 369.7 million tonnes and 2 356.5mt to 2 280.7mt and 2 251.2mt, respectively for 2016 and 2017.

“The decline in global steelmaking capacity in 2017 follows a deceleration in capacity growth since 2013 and results from capacity reductions and slower capacity growth in both OECD/EU economies and non-OECD/EU economies,” the organisation says.