Global steel capacity is likely to grow until 2021 I PPGI/PPGL Steel Manufacturers

Updated on: 17/03/2020
Global steel production capacity may increase by 4% -5% during 2019 and 2021 if the planned projects are completed and there are no closures, with an additional capacity of 88-110 million tons / year, the Organization for Economic Cooperation and Development said in a report released Tuesday.
The report said that 87.8 million tons / year of additional capacity is currently underway and may be operational during 2019-2021. An additional 22.4 million tons / year of additional capacity is currently in the planning stage for start-up over the same period.

According to the report, Asia may experience a significant increase in steel production capacity in the next few years, with more than 53.4 million tons / year of additional capacity currently being deployed and 10 million tons / year during the period. Planning section for 2019-21.

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A number of capacity investments are also taking place in the Middle East, where projects of up to 25.1 million tons / year of capacity are currently being implemented and will be completed in the next 3 years.

A number of investments are also being made in Africa and Europe, with a total capacity of 2.9 million tons / year and 4.1 million tons / year of capacity that may be operational during 2019-2021, respectively.

CIS regions, Latin America and NAFTA may also increase capacity, with 1.8 million tons, 200,000 tons and 300,000 tons / year additions currently underway in each region, respectively. No additional capacity is currently being implemented in Oceania.

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Steel production capacity remained almost unchanged in 2018, after the fall of 2016 and 2017. OECD adjusted the 2017 data on global steel production capacity to slightly decrease to 2.24 billion tons / year. The change in net capacity in 2018, taking into account the addition and closure of new capacity, brings the current global steel production capacity to 2.23 billion tons / year.

OECD emphasized that in the context of global redundancy, it is important for policy makers to continue to monitor investments and close them closely.

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