Global steel production capacity exceeds demand by hundreds of millions of tonnes.

Omissions

• The MEP did not cite a source or specify a reference year for the claim. The most recent authoritative data available at the time of the session (OECD Steel Outlook 2026, reporting on 2025) confirms 640 million tonnes of excess capacity.
• The claim uses the broad formulation 'hundreds of millions of tonnes' without specifying the exact figure (640 million tonnes per the OECD), which is a somewhat imprecise but not inaccurate characterisation.
• OECD and worldsteel use slightly different methodologies to calculate excess capacity; the OECD figure of 640 Mt is the most widely cited in policy discussions on steel overcapacity.

Sources

• PrimaryOECD Steel Outlook 2026At the global level, steel excess capacity increased to 640 million tonnes (Mt) in 2025: it is now exceeding the total OECD steel production by more than 200 million Mt.
• SecondaryEurofer (European Steel Association)According to the OECD, global steel excess capacity reached around 640 million tonnes in 2025, more than 200 million tonnes above total OECD steel production.
• SecondaryEurometalExcess capacity climbed to 640 million mt in 2025, already exceeding total OECD steel production by more than 200 million mt.
• SecondaryS&P Global Commodity InsightsSteelmaking capacity is expected to rise for a seventh consecutive year, reaching 2.55 billion metric tons by the end of 2025. Global steel demand forecast at 1.75 billion tonnes for 2025 per World Steel Association, implying a gap in the hundreds of millions of tonnes range.