The International Steel Agreement was instituted in 1926 in Europe and was the first international steel cartel. Its purpose was to sustain prices, and to equitably divide up quotas amongst member states and companies, which represented around two-thirds of the world's steel exports,[1] as well as to secure the member states' supplies of iron ore and coke, which were indispensable to their steel industries. It faced difficulties due to Nazi Germany's desire to re-arm and increased British and American exports after the Wall Street Crash of 1929.[1]
^ abBerger, Françoise (21 December 2009). La France, l'Allemagne et l'acier (1932-1952): De la stratégie des cartels à l'élaboration de la CECA (PhD thesis) (in French). Retrieved 25 February 2024.
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