AVB Posted January 25, 2017 Report Share Posted January 25, 2017 This seems to have happened under the radar http://www.telegraph.co.uk/business/2017/01/25/british-steels-turnaround-gathers-steam-heads-back-profit/ Something must be happening to the UK economy. Discuss Quote Link to comment Share on other sites More sharing options...
bodach Posted January 25, 2017 Report Share Posted January 25, 2017 Aye it is price of steel just gone up £100/mt B Quote Link to comment Share on other sites More sharing options...
panoma1 Posted January 25, 2017 Report Share Posted January 25, 2017 The media are only interested in shock horror and bad news! they don't seem to want to publicise any UK positive news post the Brexit vote! Quote Link to comment Share on other sites More sharing options...
keg Posted January 25, 2017 Report Share Posted January 25, 2017 (edited) Makes interesting reading on how the company is now so differently run as well. Edited January 25, 2017 by keg Quote Link to comment Share on other sites More sharing options...
Tim Kelly Posted January 25, 2017 Report Share Posted January 25, 2017 20% lower value of the pound probably has something to do with it. The economy isn't doing well because everyone's delighted with brexit, it's because the pound has tanked! Quote Link to comment Share on other sites More sharing options...
AVB Posted January 25, 2017 Author Report Share Posted January 25, 2017 20% lower value of the pound probably has something to do with it. The economy isn't doing well because everyone's delighted with brexit, it's because the pound has tanked! So what? The pound being low has winners and losers. I am sure the winners aren't complaining. My holidays are going to cost more though this year. Quote Link to comment Share on other sites More sharing options...
digger Posted January 25, 2017 Report Share Posted January 25, 2017 Let's hope they produce decent steel products. I've given up buying breaker points, chisel bits and bolsters as they are only slightly stronger than uncooked pasta. Quote Link to comment Share on other sites More sharing options...
guest1957 Posted January 25, 2017 Report Share Posted January 25, 2017 Did I read that they are now recycling scrap using arc furnaces as opposed to blasting new stuff from coke and ore? Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted January 25, 2017 Report Share Posted January 25, 2017 So what? The pound being low has winners and losers. I am sure the winners aren't complaining. My holidays are going to cost more though this year. Indeed, winners and losers. People who are really struggling won't be effected so much because they can't afford a foreign holiday (not a dig mate). Some might struggle with food or other stuff going up though, swings and round abouts. What's good for some with be bad for others. Quote Link to comment Share on other sites More sharing options...
four-wheel-drive Posted January 25, 2017 Report Share Posted January 25, 2017 So what? The pound being low has winners and losers. I am sure the winners aren't complaining. My holidays are going to cost more though this year. I have not had a proper holiday for over ten years so I could not give a toss about other people having to pay more for there holidays all that they have got to do is stay in our beautiful country who needs sun anyway rain is good for you washes the cobwebs away. Quote Link to comment Share on other sites More sharing options...
AVB Posted January 25, 2017 Author Report Share Posted January 25, 2017 My comment on holidays came across badly. It wasn't meant to. As for food going up surely people should be buying local produce that surely wouldn't be impacted by the devaluing of the pound! The reason for my original post was to highlight the good news re British Steel (including the renaming of it back to British Steel) that seems to have been missed by many. Even if some of their success is due to the pound devaluing. Not all of it is though. Is the devaluing of the pound just a scare story quoted by bremainers? For every loser there will be a winner and it may ultimately drive us all to consume more home produced goods. Again discuss. Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted January 25, 2017 Report Share Posted January 25, 2017 My comment on holidays came across badly. It wasn't meant to. As for food going up surely people should be buying local produce that surely wouldn't be impacted by the devaluing of the pound! The reason for my original post was to highlight the good news re British Steel (including the renaming of it back to British Steel) that seems to have been missed by many. Even if some of their success is due to the pound devaluing. Not all of it is though. Is the devaluing of the pound just a scare story quoted by bremainers? For every loser there will be a winner and it may ultimately drive us all to consume more home produced goods. Again discuss. Have those expensive German cars gone up in price I wonder or are they priced at the maximum they will sell already Quote Link to comment Share on other sites More sharing options...
four-wheel-drive Posted January 25, 2017 Report Share Posted January 25, 2017 Oh I just thought Nissan should be happy anyway if we are in the free trade area or not with the £ dropping by 20% even if people have to pay a tarif in Europe the cars will still be cheaper so we should sell more of them :good: Quote Link to comment Share on other sites More sharing options...
12gauge82 Posted January 25, 2017 Report Share Posted January 25, 2017 My comment on holidays came across badly. It wasn't meant to. As for food going up surely people should be buying local produce that surely wouldn't be impacted by the devaluing of the pound! The reason for my original post was to highlight the good news re British Steel (including the renaming of it back to British Steel) that seems to have been missed by many. Even if some of their success is due to the pound devaluing. Not all of it is though. Is the devaluing of the pound just a scare story quoted by bremainers? For every loser there will be a winner and it may ultimately drive us all to consume more home produced goods. Again discuss. I don't think your comment came across unreasonable. I think the pound weakening is on the whole a good thing, especially if we are going to go it alone, it will probably hit high profit business harder than the little man and may lead to more skilled jobs to. Quote Link to comment Share on other sites More sharing options...
Jega Posted January 25, 2017 Report Share Posted January 25, 2017 Living in Scunny this news is a massive relief to many of my friends who depend on whats left of the steel works . Quote Link to comment Share on other sites More sharing options...
figgy Posted January 25, 2017 Report Share Posted January 25, 2017 Shame they closed Redcar Steel Works and turned the blast furnace off before the Government decided to step in. Still good news for the industry. Quote Link to comment Share on other sites More sharing options...
grrclark Posted January 25, 2017 Report Share Posted January 25, 2017 I don't think the production of steel was ever unprofitable in the UK. One of the major complications was due to the legacy of the associated British Steel pension scheme, as part of the proposed rescue measures I believe the government were prepared to underwrite some elements of that. There was something like a £7bn, maybe even £13bn, exposure on Tata's book in that regard. Quote Link to comment Share on other sites More sharing options...
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