New OECD steel reports and steelmaking capacity data
by David Fleschen
The OECD published two new reports on the steel sector today and updated its Steelmaking Capacity Database.
● Recent Developments in Steelmaking Capacity
This gives an overview of crude steelmaking capacity developments, including new investments and closures, based on an update of the OECD’s Steelmaking Capacity Database, with country data from 2000 to 2018. Latest available data suggest global steelmaking capacity declined slightly to 2,233.7 million metric tonnes in 2018. If investment projects under way around the world, and others in the planning stage, go ahead – and barring closures elsewhere – global steelmaking capacity could increase by 4-5% between 2019 and 2021. That would amount to additional capacity of between 88 million and 110 million tonnes over that period. (Download the report as a PDF)
● Steel market developments: Q2 2019
This looks at steel markets to end-2018, using data from market and OECD sources. It finds that while demand remains positive in most regions, steel market fundamentals weakened in the second half of 2018 and prices have started to adjust, reversing their previous upward trend and eliminating most of their earlier gains. The report discusses the potential impact of the weaker global economic outlook, trade frictions, excess capacity and a pickup in new capacity investments. (Download the report as a PDF)
The next OECD Steel Committee meeting will take place on September 26-27 in Paris.
See more on the OECD’s work on steel: www.oecd.org/industry/steel.htm
Source: OECD, Photo: Fotolia