In July 2008, an electrician carrying out routine maintenance suffered an electric shock and was badly burned. The UK steel industry is bracing itself for a crisis, as a chain of events from closed plants, thousands of lost jobs, sharp drop in global prices, and now the explosion at the Celsa steelworks in South Wales, killing two steelworkers which has caused the company to suspend operations. Many blame the crunch on an increase in Chinese imports, a strong pound and environmental taxes, as we previously highlighted. But what about the impact that Brexit will have on other sectors such as agriculture or manufacturing? These include Hargreaves Services, which provides coal to the Redcar steelworks; PD Ports, which exports steel by SSI UK; and engineering group, Vesuvius, with 60% of its sales being iron and steel customers. Analysts believe the manufacturers who will survive the crisis are those that have diversified their product range.
The UK steel industry is bracing itself for a crisis, as a chain of events from closed plants, thousands of lost jobs, sharp drop in global prices, and now the explosion at the Celsa steelworks in South Wales, killing two steelworkers which has caused the company to suspend operations. Many blame the crunch on an increase in Chinese imports, a strong pound and environmental taxes, as we previously highlighted. But what about the impact that Brexit will have on other sectors such as agriculture or manufacturing? These include Hargreaves Services, which provides coal to the Redcar steelworks; PD Ports, which exports steel by SSI UK; and engineering group, Vesuvius, with 60% of its sales being iron and steel customers. Analysts believe the manufacturers who will survive the crisis are those that have diversified their product range.