Trading conditions "are as tough as I've ever seen in my thirty year career" says Tata Steel's Jon Ferriman.
"This is worse than 2008/9, and it's been sustained, which is what is really hurting us."
"The European economy is driving prices down, and the Chinese economy is driving raw materials up. We're getting squeezed in the middle".
More top news
Fire crews have been responding to reports of flash flooding in Carmarthenshire. Some homes have been affected.
Medication designed for animals was taken from the building in Abertillery on Thursday night.
More than a thousand riders will be taking part in a series of events in and around the town.