Global steel overcapacity is over 600 million tonnes, nearly four times the entire annual production of Europe

Omissions

• The claim does not specify any reference year; the 602 million tonnes figure corresponds to 2024 data from the OECD and EUROFER.
• The claim says 'nearly four times' (quasi quattro volte), but the actual ratio of 602 Mt to EU production (~140–146 Mt) is approximately 4.1–4.3× — i.e. over four times, not slightly under. The rhetorical framing understates the ratio.
• EUROFER, the source of the 602 Mt and 4× comparison, is the European steel industry trade association and has an institutional interest in emphasising the scale of global overcapacity to support calls for trade protection measures. However, the underlying OECD data is independent.
• The claim uses 'Europe' rather than 'EU'; if non-EU European producers (UK, Turkey, etc.) were included, total European production would be higher and the ratio lower than stated.

Sources

• PrimaryOECD — Steel Outlook 2025 Press ReleaseExcess capacity is projected to rise to 721 million metric tonnes (mmt) by 2027, exceeding by around 290 mmt the combined steel production of all OECD countries. The OECD Steel Outlook 2025 confirms that global steel excess capacity — the gap between production capacity and demand — continues to grow substantially.
• PrimaryGlobal Forum on Steel Excess CapacityGlobal steel excess capacity (the global gap between demand for steel and the capacity to produce steel) is surging towards 721 million tonnes by 2027.
• SecondaryEUROFER — Steel Flooded FactsheetAs of 2024, global steel overcapacity exceeded 602 million tonnes - more than 4 times the EU's total annual steel consumption – and is projected to rise to 721 million tonnes by 2027.
• SecondaryEUROFER — Press Release on OECD Overcapacity DataGlobal steel excess capacity will increase from 602 million tonnes in 2024 to 721 million tonnes by 2027 – over five times the EU's steel production.
• SecondaryEUROFER — European Steel in Figures 2024The EU steel industry produces on average 140 million tonnes of steel per year.