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08 Jun

Excess capacity threatens energy transition: G20 steel forum

The Global Forum on Steel Excess Capacity (GFSEC) concluded after a meeting at OECD’s Paris headquarters on Thursday that the trend of global crude steel excess capacity is worsening amid new capacity investments, including by state-owned enterprises. These raise the risk of a global steel crisis at a time when the industry needs stability to decarbonise, ministers of multiple countries said in a closing statement. Representatives acknowledged that glob…
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