It was not so long ago that many of the world’s steelmakers were in the doldrums.
An international oversupply of the grey metal had provoked a plunge in its value, wreaking havoc on companies such as Luxembourg’s ArcelorMittal, US Steel and Posco of South Korea.
Losses racked up, share prices sagged and thousands of workers were laid off as the industry was buffeted by some of the stormiest conditions since the 2008 global financial crisis.
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