The steel industry plays a critical role in economic growth and national security, including economic security. Steel is required in nearly all industrial activities, construction and infrastructure, all forms of energy generation, and is a critical input for numerous strategic sectors of the economy. However, the global steel industry’s viability is seriously challenged by growing excess capacity driven by pervasive subsidies and other non-market policies and practices in certain economies.
The OECD’s Steel Committee plays a vital role in advancing transparency and promoting a level playing field in the global steel sector. This report highlights the important work recently conducted by the Steel Committee in key areas, including the global steel market and industry prospects; developments in steelmaking capacity; the use of subsidies and other non-market policies and practices that distort markets; and trade actions to address level-playing-field problems facing steel producers worldwide. It provides a comprehensive, yet succinct, assessment of the current situation and an informed outlook for the future.