2 Days
Source:
الشرق اللبنانية
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China and Iran limit global steel trade
The Organisation for Economic Co-operation and Development (OECD) has reported that the global steel sector is facing a crisis due to an excess of production supported by China, with surplus capacity reaching 640 million tons last year and expected to rise to 745 million tons by 2028. Of this surplus, 54% is centered in China, which has doubled its support for steel manufacturers since 2019. Additionally, the conflict in the Middle East has led to higher energy costs and disrupted supply chains, impacting global steel demand and production.
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