alt Hacker News"It has nothing to do with decarbonization and everything with them having no idea how to compete."
So they lost all the ideas since the 1980s or so, when they were top of the heap?
Maybe, but increasing cost of inputs has more than nothing to do with economic balance of any business. Even regular households feel the increase in heating and electricity costs. A factory which needs orders of magnitude more energy will feel them even more.
Cheap energy is very important to any industry, no way around it. That is why China builds so many power stations.
No, it's just that Chinese and Indian steel is produced in ways that would not work in the EU (or even the US). The main reasons are (1) a disregard for environmental damage (2) state subsidies (more so for China than for India) (3) a disregard for safety.
The playing field simply isn't level, the ideas are there, the technologies are there but you can't compete if the competition is not bound in the same way.