This month negotiators in Paris will try again to agree that the world's steel industry should idle uncompetitive operations, as much as 95 million metric tons according to a plan worked out by numerous government trade and finance officials. It would be nice to have them acknowledge the obvious, but there's no guarantee it will lead to any result. And, they're said to be tabling the more serious issue of steel subsidies. This month may also bring the end of Geneva Steel. Creditors are set to liquidate the integrated producer now that no investor will take a risk on a revamp to scrap-based melting there. This would be regrettable, but it would at least demonstrate some responsible action in the Great Steel Debate.
NSTL
