Steel producers fail to solve overcapacity crisis

Brussels

CHINA and other major steel-producing countries failed to agree on measures to tackle a global steel crisis as the sides argued over the causes of overcapacity, prompting US criticism of Beijing's approach and an angry response from Chinese officials.

A meeting of ministers and trade officials from over 30 countries - hosted by Belgium and the Organisation for Economic Cooperation and Development (OECD) on Monday - sought to tackle excess capacity, but concluded only that it had to be dealt with in a swift and structural way.