On 10 October 2025, the Global Forum on Steel Excess Capacity (GFSEC) held a Ministerial meeting on the sidelines of the G20 Trade and Investment Ministers meeting in South Africa. The GFSEC Ministerial meeting was chaired by Australia.
This year’s Ministerial meeting focused on the deepening global steel excess capacity crisis and its impacts, and sought agreement on concrete policy actions, including work towards a comprehensive framework for joint action, enhanced monitoring of the drivers of excess capacity with a focus on non-market policies and practices, as well as co-operation and policy actions in the area of steel trade. Read the media release.
The Global Forum on Steel Excess Capacity was established by G20 Leaders in 2016 and is hosted at and facilitated by the OECD.
The Forum addresses the critical issue of steel excess capacity, which depresses prices, distorts trade, and destabilises global markets. With global steelmaking capacity exceeding steel demand by 601 million metric tonnes in 2024, and expected to grow to 721 million tonnes by 2027, addressing this challenge is more urgent than ever.