So, like always. This headline and story are absurdly misleading. The UK steel industry isn't dead. They're just killing off the blast furnace part of the steel industry, which pretty much every developed country is doing because its so inefficient.
Pretty much every steel company is transitioning to using Electric Arc Furnaces, instead of blast furnaces. Which are infinitely more efficient and can make better use of scrap metal as a feedstock instead of relying solely on a steady supply of raw iron ore.
Don't get me wrong, china shouldn't own ANYTHING in the west, but this headline is just completely wrong about it's core argument that steel production in the UK is dead.
So, like always. This headline and story are absurdly misleading. The UK steel industry isn't dead. They're just killing off the blast furnace part of the steel industry, which pretty much every developed country is doing because its so inefficient.
Pretty much every steel company is transitioning to using Electric Arc Furnaces, instead of blast furnaces. Which are infinitely more efficient and can make better use of scrap metal as a feedstock instead of relying solely on a steady supply of raw iron ore.
Don't get me wrong, china shouldn't own ANYTHING in the west, but this headline is just completely wrong about it's core argument that steel production in the UK is dead.