Western Europe isn't mining iron ore and making the raw steel. They're most likely importing steel ingots and finishing them. Everything has to be shipped in:

Western Europe isn't mining iron ore and making the raw steel. They're most likely importing steel ingots and finishing them. Everything has to be shipped in: the energy, the iron and raw steel. And then everything has to be shipped back out to it's final destination. At some point, these industries are going to pivot closer to the raw materials and the actual consumers, the growth economies in the 3rd world. Western Europe won't be a major player.