Speaking at the SteelOrbis Spring’14 Conference & 70th IREPAS Meeting in Barcelona, Spain today, IREPAS chairman Kim Marti stated that the long steel industry is still facing the problem of overcapacity, especially in China, though the same issue is now also being observed in Turkey, citing production cuts as still being a significant option.

Mr. Marti emphasized that the continuation of free trade is unquestionable, though adding that steel producers may need to take measures against unfair trade practices. He also added that credit restrictions are limiting the pace of trade in the steel industry, as the steel business is seen risky by finance providers.