The issue of China’s steel overcapacity has yielded an important step forward, says the AISI’s president and CEO Thomas J Gibson, following a meeting between the American and Chinese governments in China.​

According to Gibson, high-level meetings between the two countries resulted in the two governments agreeing to hold further talks in 2016.

Next year’s meetings, claims the AISI, will include updates on progress made with regard to China’s July 2014 commitment to preventing crude steelmaking capacity expansion as well as addressing excess capacity issues over the next five years.