Heavy industry in Europe is up against a formidable alignment of global pressures, and the pillars of its old economy, coal and steel, look shaky. A fragile eurozone, a slowing Chinese economy and turbulent markets are weighing on its industry. Steelmakers are buckling, as excess Chinese steel piles up. France and Germany, whose post-war coal and steel embrace helped create today's European Union, want trade barriers. Meanwhile, the exodus from coal power is gathering pace as policymakers look to erase carbon imprints. Seven EU countries have quit coal, including Belgium this year, with the UK pinning its exit on 2025.
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