Members of the Global Forum on Steel Excess Capacity (GFSEC) will meet to discuss the worsening global steel crisis and ways to counter its continuing impact on their steel industries. The meeting will be chaired by the United States, bringing together Ministers and high-level representatives of the GFSEC Members and other invited countries.
The Ministerial Meeting takes place against the backdrop of a worsening global steel crisis and an increasingly uneven global playing field, with excess capacity expected to rise from 601 million tons in 2024 to 745 million tons by 2028, reaching its highest level in a decade and exceeding the current combined production of GFSEC members by 319 million tons.
During the meeting, Ministers will discuss a comprehensive framework for joint action to address the impacts of steel excess capacity.