Lots of UK steel-making companies have already closed or announced their closure because of cheap imported Chinese steel. High electricity prices and high taxes for industry leads to a significant price increase, as a result companies shut down and people become unemployed.
Nowadays world steel industry faces lots of problems: overproduction, price declining etc. The Visiongain, a business information portal, has prepared a report and has made several predictions on steel industry and market’s future 2015-2025.
Steelmakers from all over the world suffer from Chinese steel. Overproduction and import of Chinese cheap steel causes the situation on a market, when steel business in other countries becomes unprofitable due to lack of demand.
