SSI UK on Teesside Steel Makers out of work now
 

Owned by Thailand Company
Worldwide due to China
Steel Production Slow Down

Around 3,000 workers may be layed off.


Next week we find out more.


http://media.skynews.com/media/image...-1-736x414.jpg

http://news.sky.com/story/1554951/fr...-steel-workers

Aye, open..shut..open..shut.

The price of steel has dropped so low:shrug:

Will be a sad blow again for that region,surely the govt. can assist here.

I hope not.

They are asking for 100 million quid loan, once they use that up then what?
You can't wait about waiting for steel prices to rise.
Hopefully the workforce can find other work in the region, this plant is no stranger to upheaval as is the other one nearby.

The local MP is asking for Help,
we should find out next week

Steel Plant To Close With Loss Of 1,700 Jobs

http://news.sky.com/story/1560168/st...s-of-1700-jobs

sad day

..I saw this earlier, a very sad day for those families who will have had this worry hanging over them...

An extremely sad day all round.
Never good to hear of large scale job losses like this.
Awful news.

Also to Mothball it Proper
costs money
as you need a Coal Supply
to keep the main furnace
going all the time.
If it fully goes out
it can not be started.


Ref : SkyNewsHD Business Report

Some were aware
as the last few weeks all the Big Trucks
were being removed.


I China (This Massive Steel Slow Down is Worldwide)
its worse
as they can not get ant benefits like we do.

No we find out
SSI in Thailand is going under.

The Gov. is spending "£80Million for Job Creation"


The steel global market has halved
in just 12months.

The problem with proper mothball
is they have to have coal supply to keep the big furnace going
but how long it this steel market staying down?
For Example ,
If its 20 years
then its crazy to keep it ticking over in case
a new venture can afford to open it?


Ref Ch5HD News , SkyNewsHD, Bloomberg

http://news.sky.com/story/1562753/st...to-liquidation

Why is steel going down in price so rapidly?

Dumping by China.
They have too much so are flooding the market with cheap steel.

Thanks.

Maybe our government could be looking into how we can utilise how cheap steel has gotten, look into something it can be useful for?

Also a Worldwide Slow Down on its use,

They are buying loads of Steel for the HS2 project