UK Steel Industry

It is worth remembering that the Redcar blast furnace was constructed by the Callaghan Government in 1978 and 1979. There was supposed to be a second furnace, but that mysteriously disappeared after the change of Government. The current world market is effectively free for China, and it is interesting that the one nation with a state-owned steel industry is dominating the market. That is not a defence of a nationalised steel industry, but it is certainly something that Ministers should pore over when they consider which policies, regulations, instruments or trade defence they should be implementing in the steel market.