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Dragged into receivership by Brexit and then sold super cheap to a foreign company. It's good news, of course, but it's a net loss compared to where it was 4 years.expressman33 wrote: ↑Mon Nov 11 2019 8:29amGreat news that British Steel will be saved. https://www.bbc.co.uk/news/business-50369413
The UK steel industry has been in decline for some time because of a variety of factors such as overcapacity in EU steelmaking and Chinese state-subsidised firms flooding the global market with cheap productexpressman33 wrote: ↑Mon Nov 11 2019 8:29amGreat news that British Steel will be saved. https://www.bbc.co.uk/news/business-50369413
My understanding is that this has nothing to do with Brexit, but has more to do with the over capacity in the market generally caused by the Chinese dumping steel in markets around the world. Good luck to them if they feel they can make a go of it.parchedpeas wrote: ↑Mon Nov 11 2019 9:05amDragged into receivership by Brexit and then sold super cheap to a foreign company. It's good news, of course, but it's a net loss compared to where it was 4 years.expressman33 wrote: ↑Mon Nov 11 2019 8:29amGreat news that British Steel will be saved. https://www.bbc.co.uk/news/business-50369413
A Brexit parable, that will be repeated over and over again.
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