The steel industry contributes significantly to economies, producing a vast array of products that are used to support investment in infrastructure, and manufacturing machinery and equipment, as well as a broad range of consumer items. The industry is now confronted with growing challenges in the form of rising excess capacity and the resulting serious trade and adjustment issues that have emerged.
The OECD’s Steel Committee has played a vital role in advancing transparency in the above-mentioned areas, providing a platform for exchanging views and information and promoting international co‑operation. This report highlights the important work recently undertaken by the Steel Committee in key areas. It provides a comprehensive assessment of the current situation and offers an informed outlook for the future, assessing capacity and market developments, government subsidies and other support measures, trade policy actions, and the efforts of the industry to enhance environmental performance by shrinking its carbon footprint.
The report was prepared by the OECD Secretariat with the support of government and industry stakeholders. It was approved and declassified by the Steel Committee on 2 May 2025.