Figure A

Soaring steel capacity glut fuels steel market instability : Global steel production, excess capacity, and capacity utilization rate, 2000–2020

Capacity utilization rate Production Excess capacity
2000 75% 850 282
2001 73% 852 314
2002 70% 905 381
2003 68% 971 459
2004 71% 1063 440
2005 71% 1148 458
2006 74% 1250 447
2007 74% 1348 469
2008 70% 1345 568
2009 61% 1241 793
2010 67% 1435 719
2011 69% 1540 686
2012 68% 1562 719
2013 70% 1652 710
2014 70% 1674 712
2015 68% 1625 752
2016 69% 1633 735
2017 74% 1736 616
2018 78% 1825 503
2019 79% 1875 487
2020* 74% 1822 633
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Note: 2020* is a projected annual value.

Sources: OECD 2020a and 2020b; World Steel Association 2020a and 2020b.

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