The 98th session of the OECD Steel Committee convened on November 4-5, 2025, in Paris, where delegates discussed significant concerns regarding the impact of non-market policies on the global steel industry. Vice-Chairs Ms. Sheryl Groeneweg and Mr. Lieven Top highlighted the ongoing distortion of steel prices caused by some nations’ practices, which are adversely affecting market-oriented economies.
During the session, delegates expressed alarm at the continued surge in Chinese steel exports, which have risen by an additional 10% this year alone. This increase follows a dramatic doubling of exports from 2020 to 2024, raising serious implications for member countries. The displacement of steel workers and businesses within these economies has become increasingly pronounced, leading to significant trade disruptions and risks to national security.
The meeting revealed that the financial performance of steel firms is deteriorating, with nearly 20% of ongoing and planned projects focused on lower-carbon emissions now on hold. Investments necessary for upgrading and maintaining competitive facilities are at risk, further complicating the industry landscape.
Policy Responses and Collaborative Efforts
The delegates engaged in discussions aimed at formulating effective policy responses to the challenges posed by these market distortions. Identifying common ground and collaborative strategies were central themes, as participants emphasized the need for a unified approach to tackle shared issues within the steel sector.
Key conclusions drawn from the session underlined the importance of establishing robust frameworks that can counteract the adverse effects of non-market practices. The Vice-Chairs urged member countries to strengthen their collective efforts to ensure fair competition and support the development of sustainable steel production methods.
The implications of these discussions are significant, not only for the steel industry but also for the broader economic landscape. As nations navigate the complexities of international trade, the need for cooperation and strategic planning becomes increasingly vital. The OECD Steel Committee’s ongoing commitment to addressing these pressing challenges will play a crucial role in shaping the future of the steel market globally.
