‘Bleeding’ UK Steel Industry on Verge of Collapse – Trade Group Leader

‘Falling global steel prices forced a number of British steelmakers to shut down or lay off over 4,000 employees, or 15 percent of the sector’s workforce.

“We are bleeding very quickly and unless it’s stopped very soon we are likely to die,” UK Steel director Gareth Stace was quoted as saying by The Financial Times in an address to the parliamentary select committee on Tuesday.

Dozens of steelworkers are planning strikes outside Westminster in London on Wednesday, demanding Prime Minister David Cameron and his government to save the industry.’

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