EU, US and China fail to agree on steel production

Major steel-producing countries failed to agree measures to tackle global overcapacity during a meeting in Brussels on Monday (18 April).

China, the world’s biggest producer, and other major players agreed that the issue was urgent, but they continued to argue over whether Beijing was causing global overcapacity by subsidising domestic production.

The OECD, the club of the world's most advanced economies, said just 67.5 percent of global steel was used in 2015, down from 70.9 per...