The member countries of the Global Forum on Steel Excess Capacity warned on Monday 26 October about the “significant increase” in steel production excess capacity induced by the economic crisis due to the coronavirus pandemic, which they estimated at 606 million tonnes for 2020.
“The Covid-19 crisis is leading to one of the sharpest downturns in steel demand, with effects that may persist for years to come”, the countries said in a joint statement. They are concerned that several...