When it comes to steel you to have to look at the World economy versus supply and demand; GB has virtually NO steel industry these days, nor the coal industry to support it (all our steel comes from the Far East) whilst China has the worlds fastest growing economy with the largest steel industry, most production of which goes into the demand from the construction industry...
Aluminium, carbonfibre, and even titanium, by comparison are cheap as chips and easier to produce.
Better to churn the basic components out using virtual slave-labour in the Far East then ship them over to the West to be rebranded by the Majors for distribution through the Chains.
Steel will always be the material of choice for the bespoke producers though...