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The Masked Tulip

Steel Output Not To Recover To 2007 Levels For 10 Years

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Corus boys just at a press conference on News 24 stated that their economic advisers have told them that steel production will not go back to 2007 levels for 10 years.

Rumour in South Wales, press conference aside, has it that Port Talbot will close within 3 years - surely not!? :blink::rolleyes::blink:

Obviously those green shoots are not happening in steel.

The steel industry is about the best barometer of the economy. If it goes into recession then the World is going into recession, if the steel industry is buoyant then the economy is flourishing.

The boys at Corus are talking abut 10 years to get back to 2007 levels - oh dear.

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Corus boys just at a press conference on News 24 stated that their economic advisers have told them that steel production will not go back to 2007 levels for 10 years.

Rumour in South Wales, press conference aside, has it that Port Talbot will close within 3 years - surely not!? :blink::rolleyes::blink:

Obviously those green shoots are not happening in steel.

The steel industry is about the best barometer of the economy. If it goes into recession then the World is going into recession, if the steel industry is buoyant then the economy is flourishing.

The boys at Corus are talking abut 10 years to get back to 2007 levels - oh dear.

Update: Corus to cut 2,000 UK jobs.

http://news.bbc.co.uk/1/hi/business/8118584.stm

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Peter Hogg, a commercial director at Corus, said outside the Rotherham plant that the firm itself was surprised by the extent of the global recession.

"It's clear to us that full recovery will be years away," he said, adding he thought the downturn would be "much longer and much deeper than anticipated".

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The company that I work for are owned by Cookson. Cookson are now on phase 3 of their plan to survive the recession. Phase 3 included yet more redundancies and site closures. This was all explained to us in a meeting about 3 weeks ago using 'powerpoint' so the stupid people could understand that we're in the sh*t. I asked the question, "Is there going to be a phase 4?"

I was assured by the MD that there wasn't a phase 4 in place as far as he knew. That either means he was lying, there actually isn't one or we'll just go t*ts up if it gets any worse.

I think it might have just got a bit worse.

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