A former exec at Tata's other European site said that Anglo-Saxon business model led to the industry's decline.
Peter Joustra, former managing director at Tata's IJmuiden plant in the Netherlands, said that the British operations fell victim to short-term investment decisions which were aimed at pleasing shareholders.
He added that the European model of business helped to protect the Dutch plant, while ensuring a long-term investment strategy focused on innovation.
"The steel industry asks for a long-term orientation - high investments and long construction time for new installations — which does not fit in with the Anglo-Saxon model of the London financial elite," according to Joustra, who worked in the industry for 36 years, including at Tata's operations in South Wales.
Tata's British business is estimated to be losing more £1m per day, while IJmuiden's profit margins are currently about three per cent.