Tata’s European steel business - which includes its sprawling Port Talbot site - is back in profit.

A combination of operational improvements, currency movements, lower energy costs and stronger steel prices helped the Indian-owned company’s European arm deliver £74m of earnings before interest, tax, depreciation and amortisation in the third quarter.

This compares with a £90m loss during the same period last year,  when the steel industry was deep in crisis.

Source: telegraph.co.uk