Australia's Arrium becomes battleground in steel slump

摘要

Banks, private equity and politicians fight over troubled Whyalla steelworks. As the impact of China's flagging demand for steel plays out across the globe, Australia has become the latest battleground. It was among the biggest beneficiaries of China's building boom and now finds itself a principal victim of the decline. And all of this can be seen in a struggle over a single South Australia steel company: Arrium.