Global level polices needed to reduce steel overcapacity: Italian expert

Date: Dec 15, 2017
In order to fight global steel overcapacity, it is essential to put in place common policies at the world level, a former Italian minister told Xinhua recently.

Speaking in the context of a recent European summit in Germany to address the global steel overcapacity issue, Corrado Clini, former Italian minister for environment, said the matter could not be solved by anti-dumping measures because they are only temporary.

“The most important thing is to make common global rules every partner should implement,” Clini said.

Environmental rules could be a good vehicle, for example, if we could adopt common rules on steel production on carbon intensity, he said, adding: “This could be a driver also to push technological innovation.”

Clini said that in Europe, there was a reorganization of steel production, spurred by the new environment laws in order to cut emissions and for better waste management.

For this reason, many plants that could not afford restructuring closed down.

To read full article please click here