British Steel is at risk of running out of raw materials within weeks, raising fears over the company’s future. The government is considering nationalising the steel company which has said its two main furnaces are “no longer financially sustainable”, prompting fears the some 2,700 jobs could be lost. Simon Boyd, managing director of REIDsteel, a […]
Tariffs imposed by US President Donald Trump on imports of steel and aluminium have taken effect in a move that will likely escalate tensions with some of America’s largest trading partners. https://www.bbc.co.uk/news/articles/cx2r3md0j84o
The invasion of Ukraine means steel buyers will have to wrestle with even more pricing volatility in the coming months. https://www.thefabricator.com/thefabricator/blog/metalsmaterials/war-in-ukraine-sends-steel-prices-skyrocketing-again
Liberty Steel has secured a £50m cash injection which it says will safeguard 660 jobs at its plant in Rotherham. The deal is part of a wider restructure of GFG Alliance, Liberty’s owner, which was forced to seek funding when its key lender, Greensill Capital, collapsed. GFG said the cash injection would allow Liberty Steel […]
British Prime Minister, Boris Johnson is very hopeful that the plants could be saved. Speaking on a visit to Middlesbrough, he said “I think British steel is a very important national asset. I think the fact that we make steel in this country is of strategic long-term importance. We have learned during the pandemic that […]
As the UK’s Brexit preparations reach new heights of chaos, a survey has revealed that companies are ill-prepared for the new customs regime, which begins in January. Two-thirds of large businesses are very, or extremely, concerned about delays in their supply chain post-Brexit. With delays at the ports inevitable, Stelstocks has already put plans into action […]
Automotive COVID-19 Recovery Series: The OEM Landscape The COVID-19 pandemic impact on the auto industry is extensive, severe, and wide-ranging: Recovery in China is underway as sales continue to improve and dealer inventory declines. Government incentives including plate quota, NEV subsidy, and scrappage incentives help the industry regain momentum Europe’s recovery has varied—Spain bottomed […]
The Covid-19 pandemic is a humanitarian crisis that continues to take a tragic toll on people’s lives, however, the outbreak is at risk of turning into an economic crisis also. Factories around the world have been forced to close or run on reduced hours, causing mass disruption to global supply chains. Manufacturing output in the […]
British Steel is on the verge of completing a £70m rescue deal with Chinese industrial firm the Jingye Group. The bailout could save more than 4,000 jobs at the struggling steel producer, and up to 20,000 additional posts in its supply chain, according to Sky News. https://www.theweek.co.uk/104268/british-steel-s-rescue-deal-at-a-glance?_mout=1&utm_campaign=theweekdaily_newsletter&utm_medium=email&utm_source=newsletter
Steel is everywhere in our lives for a reason. Steel is the great collaborator, working together with all other materials to advance growth and development. Steel is the foundation of the last 100 years of progress. Steel will be equally fundamental to meeting the challenges of the next 100. Key facts: Average world steel use […]