Iron ore prices extend losses on weak China steel demand Abha Power & Steel bags ₹4.92 crore railway order Global tool steel market outlook remains strong for 2026–2036 Kobe Steel explores scrap melting furnace for greener steelmaking
The global steel industry is facing deeper strain as excess capacity, weak demand, and record Chinese exports continue to disrupt market balance. At its latest session in Paris, the OECD Steel Committee warned that global steel demand has now declined for four consecutive years, with 2025 seeing a contraction of more than two percent. Although a slight recovery is expected in 2026, the outlook remains uncertain due to geopolitical tensions and uneven regional demand. Global steel excess capacity climbed to 640 million metric tons in 2025, while total steelmaking capacity rose to 2.445 billion metric tons, highlighting the widening gap between supply and demand. China’s steel exports hit a record 131 million metric tons in 2025, nearly doubling over the past three years as slowing domestic demand pushed more output into global markets. The OECD said this surge is pressuring producers in Europe, North America, and Latin America, while also fueling more trade barriers, subsidy concerns, and tariff circumvention. The committee stressed that current policy tools are not enough and called for stronger international coordination to address overcapacity, trade distortions, and long-term risks facing the global steel sector.
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