Steel: A Well-Tempered Industry?

BTG GA members have played significant roles in recent highprofile restructurings, including U.S. Steel Canada (aka Stelco) in Canada and Evraz Highveld Steel in South Africa. As such, we provide invaluable expertise to companies and other stakeholders as this industry continues to evolve, including dealing with legacy issues relating to pensions and employee benefits, and environmental matters.

The global steel market, which is worth around US$900bn a year, is dominated by two immediate trends: Chinese production (and demand), and the Trump tariffs on steel imports to the USA. It is the latter that has had the higher profile in the second quarter of 2018 but it is the former that has had the greater impact over the longer term and, depending on the outcome of negotiations, whether through the WTO or other forums, that may be the case in the future as well. When the Trump tariffs are a historical footnote, China’s ‘One Belt, One Road’ policy will still be causing ripples.

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