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 (LSUK) to restart its electric arc furnace at Rotherham.
“Production ramp-up will commence in October 2021 with a plan to reach 50,000 tonnes per month as soon as possible,” it added.
“The restart of operations will enable colleagues to return to work, setting the platform for LSUK’s longer-term refinancing and delivery of its plan to expand Rotherham’s capacity, creating a two million tonnes per annum green steel plant.”
https://www.bbc.co.uk/news/business-58863751
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 it is not a good idea to be excessively reliant in times of trouble on imports of critical things. It would be crazy if we were not to use this post-Brexit moment not to use the flexibility we have to buy British steel. So that’s want we want to do.”
He said the government’s infrastructure plans including wind farms, railways, and nuclear power stations would all need steel.
Mr Johnson signaled the government could unveil lucrative contracts to benefit Liberty.
The British government has rejected an appeal by Liberty’s parent company, GFG Alliance, for a GBP 170 million bailout amid concerns its opaque structures meant the funds could disappear into its international operations.
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 to counteract this and stay one step ahead of the curve.
Over the last month we have more than doubled our usual number of deliveries from Europe, which has significantly increased our stock levels across the board.
We know just how important continuity of supply is for our customers, as they can ill afford to have their machines stopped causing breaks in their schedules. Therefore, we strongly believe our increased stock levels, combined with our flexible delivery arrangements, will enable our customers to maintain their production rates over what is likely to be a turbulent period.
If Stelstocks could help with your material supplies over the coming months and beyond, please don’t hesitate to contact us. We’d be delighted to discuss your specific requirements in more detail.
The COVID-19 pandemic impact on the auto industry is extensive, severe, and wide-ranging:
The first installment of IHS Markit’s new Automotive COVID-19 Recovery Series is now available. In our whitepaper, The OEM Landscape, we look at constrained and increasingly competitive market conditions, and lay out where are the greatest opportunities to maximize success are in the short-term. This whitepaper is one of three whitepapers produced for our COVID-19 Recovery Series.
https://ihsmarkit.com/research-analysis/automotive-covid19-recovery-series-the-oem-landscape.html
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 UK has fallen sharply, with some reducing production while others have shifted to producing much needed medicines, sanitizers, ventilators, Personal Protective Equipment (PPE) and other equipment for the health service to combat the spread of the disease.
All the indications at the moment are that, even if a gradual easing of lockdown begins soon, the impact of this shock will continue to hit companies and livelihoods for some time to come. Different parts of the economy will recover at different speeds, with export demands, consumer tastes and business models changing. This unprecedented economic challenge is forcing CEOs to contemplate difficult choices. Some are pulling in, making cuts, and focusing on surviving the storm. Others, however, are taking decisive action to put in place reforms so that when the crisis ends, they can come back stronger.
This paper sets out our 3 point plan:
It includes a series of policies to support the manufacturing sector, stimulate recovery and help place the UK economy in the best position to deliver a digital, global and green future.
https://www.makeuk.org/insights/publications/manufacturing-our-road-to-recovery
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:
https://www.worldsteel.org/about-steel/steel-industry-key-messages/healthy-economy.html
The BTMA Buyer’s Guide for 2019 has just been released. Stelstocks are a long standing Technical Member of the BTMA, and our advert can be found on page 92 of the guide. For more information about our products and services, or the BTMA, please contact us.
At Stelstocks, we’ve built a reputation as one of the leading stockholders of engineering steel bars, in free machining and low carbon grades.
This reputation has grown from our unwavering commitment to quality in all of our products, always sourcing the highest quality steel from leading UK & European suppliers. Our quality management system, in compliance with ISO 9001:2015, ensures that our customers can rest assured that all the material they order from us will be of a consistently high standard. This high standard means that all of our steel offers unrivaled machinability, reducing cycle times and improving tool life.
Not only can we provide the best possible products, we also pride ourselves on exceptional customer service, offering a personal service from our family run business. Every one of our customers can attest to the high level of service they receive from us, and we are always seeking ways to improve the services we offer.
We provide fast response to any queries you may have regarding our steel stock, providing helpful and friendly advice.
Stelstocks offer completely flexible nationwide deliveries, from low volume one off orders, to larger scale scheduled deliveries. Contact us now to see how we can accommodate your needs.
As well as supplying high quality steel from stock, we are also able to offer a variety of additional engineering services to meet specific customer requirements. These include precision sawing, bar facing and chamfering, hexagon roller marking, non-destructive crack detection and centreless grinding. We provide all of our additional services with the same commitment to quality as we do with steel stockholding.
Stelstocks are one of the UK’s best steel stockholders. When you require a complete, reliable and helpful service from a steel stockist, there’s no reason to look anywhere else than Stelstocks, with our commitment to the very greatest quality, affordability and choice.