An agreement between G20 nations to tackle overcapacity in the global steel market has been reached during a G20 Ministerial Meeting in Berlin yesterday. The agreement outlines actions to limit impact of subsidies and measures which distort the steel market.
UK Steel have issued a press release welcoming the outcome of yesterday's meeting. This represents a significant step towards delivering concrete action that should help to secure the health of the whole sector well into the future. We are hopeful that we will now start to see some real progress on this issue. UK Steel’s full press release is available here.