Cheap imports, particularly from China, ‘risk undermining Europe’s steel industry’, according to Tata Steel.
A combination of the imports, the strength of the pound and high energy bills in the UK have combined,Tata Steel, leading to a sharp drop in turnover and earningsover the last three months.
Karl Koehler, chief executive of European operations, said: “Market conditions have worsened this year.
“European steel demand is increasing modestly. But imports have grown much faster in recent years and risk undermining Europe’s steel industry.”