Global Excess Steel Capacity to Surge to 721 Million Tons by 2027 – GFSEC

13 octobre, 2025 par
Administrator


The Global Forum on Steel Excess Capacity (GFSEC) has warned that global excess steel capacity will increase from 601 million tons in 2024 to 721 million tons by 2027 — the highest level in a decade.

GFSEC members have committed for the first time to tackling the root causes of overcapacity through a joint framework program, to be developed by June 2026.

In H1 2025, excess capacity grew 5.6% y-o-y, driven mainly by China, Iran, and Egypt. Global steel exports rose 3% y-o-y, with Chinese exports lifting import penetration among non-GFSEC partners from 28.1% to 31%.

GFSEC actions will include:

  • Stronger monitoring of non-market policies.

  • Greater transparency and knowledge-sharing.

  • Outreach to non-member producers to encourage cooperation.

China has also announced measures to ban new steelmaking capacity and curb output, while shifting toward high-quality steel production.

VietnamSteel by Hoa Sen Group

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