JANUARY 2016: THE FRAGILE SITUATION OF THE EUROPEAN STEEL INDUSTRY The European Steel Industry is currently susceptible to collapse owing to the supply of cheap steel from countries like China and Russia. The European Union has decided to contend this and seven steel producing member countries (namely Italy, Germany, the United Kingdom, France, Poland, Belgium and Luxembourg) have sent a letter to Brussels calling for greater action. The main issues of contention lie in the unfair trade practices and the…