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Jingye emerged as the most likely owner after talks with Ataer, a division of the Turkish military pension fund Oyak, fell through in October. Founded in by a former Communist party official, Li Ganpo, the Chinese conglomerate has hotel and retail interests. However, steelmaking, which it started doing in the early s, is now its primary focus: How much is Brexit to blame? It is not the only factor in the crisis, but it is important and will remain crucial even if Jingye buys British Steel. Steel contracts are typically agreed well in advance of the product being delivered.

Sources close to the company said orders from customers in the EU and further afield had dried up as a result. Is the whole UK steel industry in trouble? The UK steel industry has been in decline for some time because of a variety of factors such as overcapacity in EU steelmaking and Chinese state-subsidised firms flooding the global market with cheap product.

An industry that employed , people in now employs less than a tenth of that, at 31, Was this helpful? Thank you for your feedback. British Steel collapsed into liquidation in May , with orders under pressure from intense global competition as well as difficulties caused by Brexit. The official receiver took over the running of the business from the investment firm Greybull Capital while a buyer was sought.

The Chinese conglomerate, which also has hotel and retail interests, produces about 15m tonnes of steel a year in China and it plans to expand internationally. Select Page Steel connection design Reinvented! The first software in the world which can design and check all steel connections and joints. Any topology, any loading, in minutes! Overall check for any connection in minutes. Stress and strain analysis, stiffness, member capacity design, buckling, and design joint resistance.

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