The formation of a Global Forum on Steel Excess Capacity, which had its first meeting in Berlin on 16 December, has been praised by the American Iron and Steel Institute (AISI).
Thomas J Gibson, AISI president and CEO, commented, "We are pleased that this important Global Forum began its work yesterday, and especially appreciate the leadership and commitment of the US government representatives to address the global steel overcapacity crisis and the market-distorting policies and practices that have enabled it. The high levels of unfairly traded steel imports in the US, and the massive build-up in steel capacity in other countries that fuels it, are the most critical issues facing the steel industry today. We look forward to the Global Forum continuing to engage key countries in a co-operative effort to help level the playing field for the North American steel industry."
The formation of the Global Forum was agreed to by the G20 leaders in September at the Hangzhou Summit and brings together more than 30 economies – all G20 members plus interested OECD members.