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In September, the G20 will discuss the overproduction of metals in the world

Our country is ready to solve the problem of excess steel production.

11.Jul.16 4:17 AM
By Anna Nekrasova


In September, the G20 will discuss the overproduction of metals in the world
In September the country's "big twenty" will be discussed by global overproduction of metals. Our country has agreed that this problem requires discussion, as steel production in the world today too much.

At the same time, the head of the Department of trade negotiations Ministry of economic development Maxim Medvedkov said that the agreement to reduce steel production out of the question.

It should be noted that the overproduction of metals was already partially discussed during a meeting of trade Ministers of the G20. It is known that the problem of excess steel production in a number of countries re-emerged a year and a half ago. This resulted in the situation in the global economy and the state support of this industry and reduce consumption of steel.

Medvedkov explained that today the market is not able to absorb all produced steel. So prices have fallen and steel sector suffers considerable losses. Mostly affected China, but such major steel producers like the US, the EU, India, Russia and Canada, also suffering losses.

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