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UK Minister: China Main Contributor to Global Steel Glut

  • Reuters

FILE - Piles of steel pipes to be exported are seen in front of cranes at a port in Lianyungang, Jiangsu province, March 7, 2015.

FILE - Piles of steel pipes to be exported are seen in front of cranes at a port in Lianyungang, Jiangsu province, March 7, 2015.

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.

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