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Elwin de Groot, Eurozone Strategist at Rabobank, suggests that the UK steel industry is on the brink of collapse, it appears, due to the flood of oversupply from China.
“As such, politics may well crack before the markets do. The Brexit camp are blaming toothless EU policy for the China’s dumping of cheap steel on European markets, but Ambrose Pritchard-Evans from the Telegraph argues that it is in fact the UK themselves that are blocking changes to an EU regulation that would enable the EU to respond much more quickly to Chinese dumping and impose tougher penalties.”
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