Overcapacity will continue to apply downward pressure to global steel prices regardless of stringent US import tariffs, trade defence measures or steelmakers’ production cuts, according to a new MEPS podcast.Head of prices and forecasts, Kaye Ayub, data lead Ewan Gilfillan and steel market analyst Jon Carruthers-Green join MEPS managing editor Tom Sharpe for the latest instalment of the Speaking of Steel podcast.

"Overcapacity is going to be an issue for the next five, 10, 15 years,” Carruthers-Green said in the podcast, entitled "Overcapacity risks ‘race to the bottom’ on steel prices".He added: “This is not going away quickly unless there are big announcements and what that would mean is lots of job losses and lots of plants closing down.”