【SMM Steel】US raises alarm over global steel production overcapacity

Published: May 12, 2026 11:01

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【SMM Steel】US industry groups expressed serious concern over growth of global steel overcapacity. China's removal of VAT export rebates and Brazil's reinstatement of import tariffs on certain steel types could redirect surplus volumes to North America. Global overcapacity could exceed 680Mt by end-2025, with growth rates at 15-year highs, creating long-term pressure on prices and margins. Trade tensions between major economies are intensifying. Ukrainian metal companies should monitor these signals and prepare for continued instability through 2026.

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