Sir Andrew Cook, chairman of Sheffield-based William Cook Holdings, made a sharp statement about the "critical safety issue" posed by the flooding of cheap Chinese steel to the country's engineering markets, and expressed fears for the survival of Britain's strategic steel industry if London will not take effective measures to restrict steel imports from China.
In a series of harsh remarks, Sir Andrew questioned the quality of Chinese-made steel and the integrity of national business practices, which he described as actions of a "command economy" seeking to establish a monopoly on the steel industry.
Calling the situation "madness", Sir Andrew said: “Chinese steel, which is being discounted in the UK at prices below cost, has already brought the domestic industry to its knees. Our steel industry needs, frankly, a complete ban on Chinese-made steel. ”
Sir Andrew made his announcement at a critical time for the UK steel industry. His comments came after Liberty Steel confirmed its intention to Sell your facility in Stokesbridge and focus on green steel production in Rotherham, calling into question the future of hundreds of jobs.
“Most of the UK steel industry is already owned by China, and most of the rest is part of the Liberty Steel empire. At the heart of Liberty's recent serious difficulties is China's determined policy of monopolizing global steel production, completely ignoring both cost and quality. "
He added: “The government should ignore calls from the International Steel Trade Association to lower restrictions on Chinese steel imports. They like Chinese steel because the cheaper they can buy, the greater their profits. But it's time to put national interests first. Britain needs a domestic steel industry: our steel mills can be profitable, and that depends on our officials to give them the dumped import protection they deserve. ”
