‘An existential threat to European steelmaking’: OECD data puts global steel surplus at 650 million tonnes in Commodity News 27/03/2026 The European Steel Association (EUROFER) has warned that the latest OECD data released in Paris today confirms a deepening global steel crisis and urged the EU to act swiftly to adopt its new steel trade measure. According to the OECD, global steel excess capacity reached around 640 million tonnes in 2025, more than 200 million tonnes above total OECD steel production, and is set to continue rising. At the same time, global steelmaking capacity has climbed to a record 2.4 billion tonnes. Axel Eggert, Director-General of EUROFER, said: “The OECD findings are clear: global steel overcapacity is not only massive, it is growing. This is an existential threat to European steelmaking, investment and jobs.” Against this backdrop, EUROFER stressed that the new EU steel trade measure currently under negotiation is urgently needed to prevent further market destabilisation. The proposed system introduces a tariff-rate quota (TRQ), allowing controlled volumes of imports while protecting the EU market from the effects of global overcapacity and trade diversion. EUROFER warned that any weakening of the proposal would reduce its effectiveness. EUROFER stressed that time is running out. Mr. Eggert added: “The EU negotiators must not dilute the new trade measure currently on the table. It must remain robust, enforceable and in place before the existing safeguard expires in June. Any gap would leave the EU steel market exposed at a critical moment for Europe.” Source: The European Steel Association 2026-03-27 hellenicshippingnews... window.___gcfg = {lang: 'en-US'}; (function(w, d, s) { function go(){ var js, fjs = d.getElementsByTagName(s)[0], load = function(url, id) { if (d.getElementById(id)) {return;} js = d.createElement(s); js.src = url; js.id = id; fjs.parentNode.insertBefore(js, fjs); }; load('//connect.facebook.net/en/all.js#xfbml=1', 'fbjssdk'); load('https://apis.google.com/js/plusone.js', 'gplus1js'); load('//platform.twitter.com/widgets.js', 'tweetjs'); } if (w.addEventListener) { w.addEventListener("load", go, false); } else if (w.attachEvent) { w.attachEvent("onload",go); } }(window, document, 'script')); tweet Share