BEIJING, July 13: European Commission President Jean-Claude Juncker told his Chinese counterparts on Wednesday that overcapacity in steel sector is a very serious problem. China is by far the world’s biggest steel producer and its annual output is almost double that of the EU. Rival producers have accused China of selling into export markets at below cost after a slowdown in demand at home, causing a crisis for the industry that has led to job cuts and plant closures. (AGENCIES)
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