Goodbye to Britain’s steel industry?
Britain’s steel industry seems to be in steep decline as evidenced by the recent announcement by Tata Steel that 1 200 will face job losses in Scunthorpe and Lanarkshire. Thailand’s SSI also recently announced that 2 200 will lose their jobs as a recent on the closure of its Redcar works. However, these effects are expected to ‘ripple’ through the economy, as other sectors such as scrap metal dealers, metal traders and steel processors are expected to face job losses as a result of these closures.
