Another 1050 Jobs Lost In The Steel Industry
It is bad news but not exactly unexpected. The nation of China is accused of flooding the UK market with cheap steel at prices that the UK plants just can't compete with, the result is Tata is laying off over 1000 employees. The positions to be lost cover different plants and support roles across the country, but the biggest loss being at their main plant in Port Talbot Wales. where 750 workers are expected to lose their jobs.
There has been criticism of the government. not acting quick enough to reduce energy costs and rates, but many believe this wouldn't have been enough. A far cry from a few year ago when China was expanding so quickly, it needed to buy in steel from the UK.
Value Of Metal Filter Down To The Breaker Yards
Of course this all filters down to the humble breakers yard who often buys old vehicles based on the steel value rather than re-selling parts. In too many cases there is just an abundance of certain models in yards up and down the UK, with less and less of them on the road, so demand becomes much lower than supply. At this point the value of the vehicle is determined by its weight in metal which has now been depleted by cheap imports.
Sellers may be surprised that cash offered for their vehicle may have dropped since a year ago or go. Of course vehicle with premium parts within are probably still going to be in demand as before.