British steel facing administration

[ez8004]

Just now, apelike said:

So the deal has only been brokered by the government but it has not received any money from the government then?

 

The government isn’t even putting its name to save Scunthorpe. Can’t tell the difference?

[apelike]

10 minutes ago, ez8004 said:

The government isn’t even putting its name to save Scunthorpe. Can’t tell the difference?

No as the government have not given Forgemaster any money and yet have given British Steel a loan to help save it and has also given monetary support in the past.

[ez8004]

Just now, apelike said:

No as the government have not given Forgemaster any money and yet have given British Steel a loan to help save it and has also given monetary support in the past.

Scunthorpe is saved from collapse is it? 

 

Bye bye 5000 jobs. 

[apelike]

3 minutes ago, ez8004 said:

Scunthorpe is saved from collapse is it? 

Dont think its collapse has been announced yet! Just correcting your post that seems to imply that Forgemasters were given aid by the government when the deal was just brokered by them, and that British Steel has been given a £100m loan and is far from the "the government isn’t even putting its name to save Scunthorpe" jibe.

[ECCOnoob]

1 hour ago, Mister Gee said:

If we are demanding cheaper goods how can specialised bespoke be the future?

Because there are two completely different markets. 

 

The mass produced cheap product which the developing nations are now undercutting us on is everywhere.  Its used every day in 1001 different manufactured products and we are far too down the rabbit hole to seriously attempt to complete with workers being paid pennies a day and a flooded market. 

 

What the developing countries ARE NOT doing at the moment is the precision, specialised, bespoke metals used in highly technical products.    That is where the future should be for our country.  Diversify and do something the others arnt.   

 

As I keep saying,  you adapt.   You change and you evolve as a company. 

 

#Whilst the masses are pricing us out of the cheap and cheerful stuff we should be using our skills, knowledge and resources to develop our place as the No1 go to for the techincal specific high quality highly patented product.

 

Its exactly whats happened in other industries and exactly what should be happening with Steel.    Burrying ones head in the sand and trying to pretend its still the 1970s is going to get nowhere.

 

 

[Baron99]

The incredible fact that I've just heard on the BBC says it all.  China has produced as much steel in the past 2 years than Britain has produced in its entire history.  

 

Not saying its all quality steel products but in this day & age in our chuck away consumerism, if your product starts rusting after a few months, just throw it away & buy another cheap one rather than buy the expensive quality one. 

 

Manufacturers of course have their role to play but if we're happy as consumers to by cheap stuff, they'll be happy to manufacture their products from cheap steel & turn a bigger profit in to the bargain. 

Edited May 22, 2019 by Baron99

[spilldig]

15 hours ago, ANGELFIRE1 said:

In a word yes. While we pander to the EU and the environmentalists and have to pay a ransom to make our steel, the Chinese have no regard for this tax we pay at all. Their steel is made using coal as the primary power supply as well I believe. They are flooding the market with "cheap" made steel and we cannot compete.

 

As the Government paid lord knows how many billions to keep the banks alive, surely they can pay a hundred million or so to keep our steel making alive.

 

Close ALL our steelmakers down, and in the event of another war ever happening, where will our steel come from, - a steel tree.

 

Angel1.

Two wrongs don't make a right. They shouldn't have bailed out the banks either, they should have done the same as Iceland and let the banks stew in thier own mire.

[Obelix]

And it's just entered administration....

 

5000 jobs will go and 20k more in the supply chain.

 

Just remember that when you vote tomorrow...

[tinfoilhat]

16 hours ago, ANGELFIRE1 said:

In a word yes. While we pander to the EU and the environmentalists and have to pay a ransom to make our steel, the Chinese have no regard for this tax we pay at all. Their steel is made using coal as the primary power supply as well I believe. They are flooding the market with "cheap" made steel and we cannot compete.

 

As the Government paid lord knows how many billions to keep the banks alive, surely they can pay a hundred million or so to keep our steel making alive.

 

Close ALL our steelmakers down, and in the event of another war ever happening, where will our steel come from, - a steel tree.

 

Angel1.

Oh the irony. From the reports I've read, orders are down because of brexit.

 

And you mention Chinese steel. The EU wanted to put tariffs on Chinese steel - we aren't the only ones suffering - and one country vetoed the whole thing.

 

Want to guess who?

[ez8004]

Told you British Steel wouldn’t be rescued. 

 

https://www.bbc.co.uk/news/business-48365241