According to the statistics on the global crude steel production capacity published by the OECD Secretariat in April 2016, the average surplus of the global crude steel nominal production capacity was about 547 million tons in 2008-2015, which was the historical highest level and significantly higher than the value of 204 million tons for several years before the financial crisis, as shown in Figure 1 below. Since excess capacity is one of the most pressing challenges faced by the current global steel industry, which is also a key factor contributing to the declining profitability in the steel industry, it has attracted great attention in various countries. Therefore, the steel industry held an industrial senior official meeting on “oversupply and restructuring issues” in Brussels on April 18, 2016 to seek solutions together.
I. Introduction
II. Experience in the Steel Industry Restructuring in Europe, U.S. and Japan
III. Conclusion
Figure 1. Excess capacity in global crude steel production from 2000 to 2015