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 |
Note: 2020* is a projected annual value.
Sources: OECD 2020a and 2020b; World Steel Association 2020a and 2020b.