In a development that will surprise absolutely no one who has been paying attention to Australian manufacturing, the South Australian premier, Peter Malinauskas, has expressed cautious optimism that steel making will continue in Whyalla, despite the closure of a major blast furnace announced yesterday. Speaking to ABC News Breakfast from Whyalla, and dressed in high-vis like a man who knows his photo op, Malinauskas described the mood as one of disappointment, heartbreak, and a sense of inevitability - which is basically the emotional trifecta of Australian industry policy.

Malinauskas noted that Whyalla "has the capacity to be a viable operation but it hasn't been recapitalised." The blast furnace, he explained, is over 60 years old, first built in 1965. "Blast furnaces of this age not to be realigned on a frequent basis. This hasn't been done in 20 years. The fact it's still going is a miracle." So, to summarise: the furnace is basically a museum piece that somehow still produces steel, and we're all just hoping it doesn't crumble into dust before someone writes a cheque.

The premier added that the plant needs to be recapitalised, and that this is the plan in conjunction with the federal government. "If we lose this capacity behind me, this country doesn't have structural steel-making capacity and we can't afford that." That's right - if Whyalla goes, Australia's ability to make structural steel goes with it, which is fine if you don't need bridges, buildings, or any of that pesky infrastructure.

Shifting from metallurgy to political culture wars, Malinauskas also took aim at Pauline Hanson, saying: "If Pauline Hanson wants to take us down the road of Americanising our politics, so people in a family who disagree on political issues can't speak to each other any longer, this is the pathway to do it." He continued: "We've got lots of challenges facing Australia, but we're not going to solve them by punching down on things that are brilliant about our country. So I think it's rotten. I think it's awful. I think it's ugly." Strong words from a man in a hi-vis vest, which somehow makes them land harder.

But Malinauskas also found common ground with Senator Jacinta Nampijinpa Price, saying he agrees with her that there are serious issues that need to be discussed. "And these comments shouldn't be a distraction from them. I mean, why aren't we closing the gap?" A fair question, and one that doesn't require a blast furnace to answer - just political will, which is apparently also in short supply.

Meanwhile, in the world of fashion, Australian brands Cue and Veronika Maine are facing collapse after a "difficult period." Because nothing says economic diversity like losing both your steel-making capacity and your mid-range corporate wear in the same news cycle. The article notes that the day's news is being followed live, which is convenient, because at this rate, we'll need a live blog just to keep up with which Australian institution is folding next.