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OECD: Global crude steel capacity estimated to grow by 3.9-4.9% by 2021

4 Jul 2019 13:32 reported by Sammi Lin

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According to the statistics from the Organisation for Economic Co-operation and Development (OECD), the global crude steel capacity would grow by 3.9-4.9% from 2018-2021, based on no closure or reducing production.

The data showed that global steel capacity would add about 88-110 million tons annually. Asia and the Middle East would be the regions that grew the most.

However, the steel market stayed weak in the second half of 2018 due to softened global economic, trade conflict continued as well as overcapacity issue. It was said the increase in steel production would aggravate the excess production problem as the steel consumption remained feeble.

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