The 99th meeting of the OECD Steel Committee was held, highlighting the worsening global situation in the sector, characterized by global overcapacity, four consecutive years of weakening demand, and strong export growth, particularly from China.
In 2025, crude steel overcapacity reached 640 Mt, exceeding the total steel production of OECD countries by more than 200 Mt, and is projected to continue rising through 2028. China accounts for more than 50% of the total excess, and over the past three years, its exports have nearly doubled as a result of diverting surpluses to foreign markets. At the same time, subsidies continue to expand, especially outside the OECD: in 2024, the average Chinese steel company received 15 times more subsidies than a company in other regions, deepening the asymmetries in global competition.
The session brought together 288 government officials and industry representatives from 42 delegations. Ezequiel Tavernelli, executive director of Alacero, participated in the meeting alongside the technical team.