voda schreef op 15 november 2024 09:02:
Global Steel Crisis Deepens as Excess Capacity Hits Record 573 Million Tons
Synopsis: OECD Steel Committee warns of worsening industry conditions with rising overcapacity, falling prices, and surge in Chinese exports.
Friday, November 15, 2024
The global steel industry faces its most severe crisis in recent years as excess capacity reaches an unprecedented 573 million metric tons in 2024, according to the latest OECD Steel Committee report. The committee, which gathered 250 delegates from 40 major steel-producing economies in Paris, highlighted deteriorating market conditions that threaten the industry's stability worldwide.
Global steel demand has declined for the third consecutive year, with China's real estate crisis playing a major role. Chinese steel demand fell by nearly 5% in the first eight months of 2024, while the rest of the world experiences sluggish demand due to challenging economic conditions and elevated manufacturing costs. Despite this weakening demand, global steelmaking capacity continues to expand, with an additional 50 million metric tons of new capacity entering the market in 2024 - the largest annual increase since 2013.
Voor meer, zie link:
www.oreaco.com/steel/global-steel-cri...