Part 2/5:
The steel manufacturing sector has suffered a staggering decline of over 90% in terms of employment since its peak. Today, the UK boasts only two operational blast furnaces, both located in Scunthorpe. Meanwhile, facilities in South Wales are undergoing closure processes. Currently, the UK’s annual production of primary steel has dwindled to a mere two to three million tons.
This diminishment is not due to a decrease in demand for steel; in fact, the opposite is true. The consumption of steel is as high as, if not higher than, in previous decades. The crisis stems from a significant shift: the UK is no longer a major player in steel production.