Steel at the OECD

The OECD Steel Committee provides a unique forum for governments to come together to address the evolving challenges facing the steel industry, and identify political solutions to encourage open and transparent markets for steel. Through its work to reduce market distorting steel policies and encourage structural adaptation, the OECD contributes to a more viable and sustainable steel industry, so that steel continues to contribute to improved economic prosperity around the world.

• See OECD work on steel

 

Objectives

The Steel Committee aims to support the viability of the steel industry, through policies that reduce market distortions and promote competitive and open markets for steel. The Steel Committee has emerged over the years as a unique platform where multilateral steel problems can be discussed and political solutions found.  Policy dialogue, transparency, and commitment have been the driving forces steering the Committee's work.

Mandate

The Committee mandate calls on governments to work together in order to:

• reduce trade barriers
• deal with crisis situations in close consultation with trading partners
• facilitate necessary structural adaptations that reduce pressures for trade actions and promote rational allocation of productive resources
• avoid encouraging economically unjustified investments
• ensure that state-owned enterprises act in accordance with market principles
• facilitate multilateral co-operation consistent with the need to maintain competition.

The tools for reaching these objectives include closely monitoring market conditions, developing common perspectives regarding emerging problems in the sector, and reviewing and assessing government policies.

 

Focus

• World steel market developments, including supply, demand, prices and financial performance
• Excess capacity in the steel industry, particularly the role of government interventions in creating or sustaining excess capacity, as well as policies aimed at facilitating structural adjustment in the sector
• Steel trade and trade policy, including non-tariff measures and restrictions on raw materials trade
• The role of state enterprises and government measures that affect steel markets, trade and investment

 

Membership

The OECD Steel Committee has the following members: Austria, Belgium, Brazil, Canada, the Czech Republic, Finland, France, Germany, Hungary, Italy, Japan, Kazakhstan, Korea, Luxembourg, Mexico, the Netherlands, Poland, Portugal, Romania, the Russian Federation*, the Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Türkiye, Ukraine, the United Kingdom, the United States, as well as the European Union. Seven non-OECD members participate in Committee meetings as "Participants" (Argentina, Bulgaria, Egypt, India, Malaysia, South Africa and Chinese Taipei) also bringing their perspectives to the Committee's work.

OECD Steel Committee Members and Participants account for around 45% of global production and 75% of global exports of steel. 

Other economies such as China, Colombia, Costa Rica, Indonesia, the Philippines, Saudi Arabia, Thailand, the United Arab Emirates and Viet Nam have attended/may be invited to attend Steel Committee meetings.

*Following a decision by the OECD Council on 8 March 2022, the participation of Russia in OECD bodies has been suspended.