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Excess Capacity in the Global Steel Industry and the Implications of New Investment Projects

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Abstract

This paper examines the extent, reasons and impacts of excess capacity in the global steel industry, as well as the implications of new investment projects that continue to take place at a rapid pace in many parts of the world. By focussing on new investments projects taking place in the global steel industry, this study intends to help governments and industry better understand the extent to which global steelmaking excess capacity may evolve in the future. The paper finds that global steelmaking capacity will continue to expand, with regions that are currently net importers of steel products expected to record the largest capacity increases. Global nominal steelmaking capacity is projected to increase to 2.36 billion tonnes by 2017, up from 2.16 billion tonnes in 2013. Non-OECD economies will continue to lead the capacity expansion in the global steel industry, with their share of world capacity expected to increase to 71.4% by 2017. Of particular importance for governments in this context will be to work towards removing market distorting policies such as subsidies that promote the emergence of new capacity or delay the closure of failing companies.

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  • Oecd, 2015. "Excess Capacity in the Global Steel Industry and the Implications of New Investment Projects," OECD Science, Technology and Industry Policy Papers 18, OECD Publishing.
    • Handle: RePEc:oec:stiaac:18-en
    DOI: 10.1787/5js65x46nxhj-en
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    Cited by:

    1. Döhrn, Roland, 2015. "Die Lage am Stahlmarkt: Deutsche Stahlindustrie weiterhin gut ausgelastet - weltweite Überkapazitäten drücken Preise," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 66(2), pages 15-23.
    2. Böhm, Hans & Lindorfer, Johannes, 2019. "Techno-economic assessment of seasonal heat storage in district heating with thermochemical materials," Energy, Elsevier, vol. 179(C), pages 1246-1264.
    3. Schmidt, Torsten & Döhrn, Roland & Grozea-Helmenstein, Daniela & an de Meulen, Philipp & Micheli, Martin & Rujin, Svetlana & Zwick, Lina, 2016. "Die wirtschaftliche Entwicklung im Ausland: Keine durchgreifende Besserung," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 67(1), pages 5-36.
    4. Federico Bassi, 2020. "Chronic Excess Capacity and Unemployment Hysteresis in EU Countries. A Structural Approach," DISCE - Working Papers del Dipartimento di Economia e Finanza def091, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    5. Nechifor, Victor & Calzadilla, Alvaro & Bleischwitz, Raimund & Winning, Matthew & Tian, Xu & Usubiaga, Arkaitz, 2020. "Steel in a circular economy: Global implications of a green shift in China," World Development, Elsevier, vol. 127(C).
    6. KAWABATA Nozomu, 2017. "Where is the Excess Capacity in the World Iron and Steel Industry? –A focus on East Asia and China–," Discussion papers 17026, Research Institute of Economy, Trade and Industry (RIETI).

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