Britains Steel Industry .. A Brief History
30 May 2016
The British steel industry began to take its place recently in the news headlines, because of the recent crises, unfortunately there are no recent signs for growth in this industry soon.
The British steel industry had been a strong hold for all the world in that field for over than 150 years since Henry Bessemer developed iron production in an economical manner, however Britain had been a very unique producer for steel, back in the days British steel covers almost 40% of the world`s need because of British factorys is near mines that is rich with coal and iron, unfortunately these days are gone now.
One of the greatest manufacturer in Britain " Tata British Steel" declared there intention to sell there factory threatening the jobs of 15 thousand
workers directly, and thousands of other workers who are working in small workshops in Port Talbot Area, South Walas, which is using steel o dealing with it one way or an other.
According to the Economist magazine that the global steel industry is now living under the yoke of the low prices and glut in markets.
Total world production of steel has reached at 2015 about 1.6 billion tons, where Britain providing a total share of barely 11 million tonnes, and approximately about 1% of the total world supply at 2015, and record global surplus of 600 million tons according to OECD estimates.
We can mention that the economic slowdown of China and its impact on the economies of other developing countries, is primarily responsible for what is happening in the global steel market, not to mention the drop in oil prices that have an effect reducing the number of platforms made of steel used in oil extraction, this is in addition to the impact on the steel pipes used in the mining industry.
India was suppose to be a spot light and the only hope we have for the time being, however, it can not regain the growing demand for steel
witnessed in the country before 2010, when the demand for steel reached it`s top due to construction and infrastructure projects.
We still looking for a lifeboat to save this industry in the UK