This increase contrasts with 2001, when OECD output declined by 4.7%, but overall world output had risen by 0.3%, reflecting an upsurge in Chinese production. Again, in 2002, the steepest increase in output came in China, up 20.3% to 181.6 million tonnes or 20.1% of the total, while output in the New Independent States fell by 5.6% to 99.9 million tonnes, or 11.1% of the total, Iron and Steel Industry in 2002 showed. The world’s major steel-producing economies, accounting for more than 90% of world steel production, are taking part in negotiations at the OECD aimed at eliminating trade-distorting subsidies on steel.
A meeting in February, including consultations with industry experts, covered general exceptions to a subsidies ban; preferential treatment for developing economies and economies in transition; notification and surveillance procedures and dispute settlement provisions. Further meetings are planned in late March and early May.
©OECD Observer No 242, March 2004