The Global Forum on Steel Excess Capacity (GFSEC) was established by G20 Leaders in 2016 and is hosted at and facilitated by the OECD.
The Forum addresses the critical issue of steel overcapacity, which depresses prices, distorts trade, and destabilizes global markets. With global steelmaking capacity exceeding steel demand by 551 million metric tonnes in 2023, and expected to grow over the next year, addressing this challenge is more urgent than ever.
This year’s ministerial meeting focuses on the current rise in global steel excess capacity and its impacts, and seeks agreement on concrete policy actions, including enhanced monitoring of excess capacity and related data, as well as co-operation and policy actions in the area of steel trade.
The Forum plays a pivotal role in fostering global co-operation to ensure the long-term sustainability and economic health of the steel industry.
