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The 75th Session of the OECD Steel Committee took place at the OECD Headquarters in Paris on 5-6 December 2013. World economic outlook Under this agenda item, the OECD’s latest Economic Outlook was presented. Global economic growth remains sluggish driven by a slowdown in emerging economies partly offset by a moderate recovery in the advanced economies. |
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Excess capacity and the economic health of the steel industry: the current situation, possible future scenarios and policy responses Excess steelmaking capacity, the economic health of the steel industry, and steel market openness are inter-linked. Concerns have been raised in the Steel Committee that trends in these three dimensions may have become worse since the global financial crisis of 2008. Excess capacity has reached very high levels, the industry’s financial situation is weak, and trade protectionist measures seem to be increasing. Presentations
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Global steel market situation and outlook
i) Global overview The Secretariat provided an update of the broad trends taking place in the global steel market.
ii) World Steel Association’s short-range outlook The World Steel Association presented its latest forecasts for apparent steel use in 2014 by major economy.
iii) New players in the global steel market: Indonesia and South Africa
iv) National and regional perspectives: reports by steel associations National and regional steel associations provided brief updates on the key steel market/policy changes that have occurred since the Committee’s last meeting.
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Raw material market and policy developments Under this item, external experts presented their views on future developments that will affect the balance of world scrap markets, given past steel consumption patterns, on the effects of export restrictions on stainless steel scrap, and on policy developments in extractive sectors in Africa.
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Trade policy issues in steel Global excess capacity, low prices and profitability have led to a variety of trade restrictive measures including frequent recourse to safeguard measures, thereby adversely affecting the openness and dynamism of global steel markets. Moreover, raw material export restrictions on steelmaking materials are becoming increasingly sophisticated, such as combinations of export restrictions with certain localisation requirements. The Committee also discussed work of the OECD Trade Committee on the role of State-Owned Enterprises.
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Policies to promote energy efficiency in the steel industry Participants discussed a preliminary report on policies that promote energy efficiency in the steel industry. Energy efficiency, in most cases, reduces enterprises’ environmental footprint and reduces local pollution. It is also good for the viability of the steel industry as energy efficiency increases industrial entities’ overall competitiveness and profitability.
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Item 10. Chairman’s statement
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