Australia Down To 1 Furnace.

The closure of one of two primary steel blast furnaces looks more likely with Arrium going into administration. Arrium diversified into iron ore mining but iron ore prices have fallen. Its rival BlueScope stayed focused on steel and seems to have weathered the foreign dumping storm. The Arrium Whyalla furnace with its 900 employees makes long steel products such as rail lines and reinforcing bars but these are impacted by dumping from cheap overseas steel companies. Although Australia still has some electric arc furnaces making steel from scrap the loss of a primary steel maker is a serious blow given that no other country (barring the oil rich nations) has become wealthy without having primary steel making.

Source: LinkedIn