China is main contributor to global steel glut says UK business minister
LONDON Oct 20 (Reuters) - China is the main country behind a global oversupply of steel, Britain's business minister Sajid Javid said on Tuesday, responding to the possible loss of 1,200 jobs at Tata Steel.
"Clearly China is one of those countries, the main one, in terms of overcapacity in the market," Javid told parliament. He also cited other sources of oversupply in Brazil, Russia and Turkey.
His comments come during the first day of a state visit by Chinese President Xi Jinping, who is in Britain at the invitation of Queen Elizabeth. (Reporting by William James and Guy Faulconbridge; editing by Stephen Addison)
© Thomson Reuters 2017 All rights reserved.