Steel News 2025

24th March 2025: British Steel has announced that it will consult on a proposed closure of the Scunthorpe blast furnaces, rod mill and steelmaking operation following the owners’ rejection of a £500 million Government funding bid. This marks the end of steelmaking in Scunthorpe after 160 years of production.

19 March 2025: The European Commission has unveiled its bold Action Plan for Steel and Metals, which will deliver comprehensive measures to protect and strengthen the European steel industry. With global overcapacity, coupled with rising energy costs, and new US tariffs and forthcoming trade diversion intensifying pressure, the EU’s rapid response highlights the urgency of the moment.

15 March 2025: Unlike many steel-producing countries - such as France, Italy, Spain and the UAE - the UK does not have a mechanism to protect energy-intensive industries (EIIs) from high wholesale prices. The report recommends introducing a two-way Contract for Difference (CfD) mechanism.

12 March 2025: President Trump’s 25% tariffs on steel and steel derivative products have today come into effect, with no exemptions granted to the UK or any other trading partners. These will have hugely damaging consequences for UK suppliers and their customers in the US.

10 March 2025: With a decisive business plan yet to be set out in the Steel Strategy and the National Wealth Fund, UK mills could bridge the gap between supply and demand. The statistics released today show steelmakers could meet up to 86% of offshore wind plate requirements with investment. Offshore wind experts, LumenEE, point out that uplifting UK steel capacity and capability will mutually benefit national defence needs.

7 March 2025: At the Make UK Conference 2025, industry leaders, policymakers, and business representatives gathered to address the urgent challenges facing the UK steel sector. The discussion underscored the critical need for government action, investment, and a robust strategy to secure the future of UK steel.

23 February 2025: UK energy-intensive industries, including steel, glass, and ceramics, have urged the government to ensure a secure, competitive, and low-carbon electricity system. They warn that DESNZ's consideration of zonal pricing under REMA threatens industrial investment and decarbonization. For steelmakers, zonal pricing could raise electricity costs in key regions like Yorkshire and South Wales, worsening competitiveness against international rivals. Instead, they call for a Reformed National Market to support industry and energy security.

17 February 2025: UK Steel welcomes the announcement by Business Secretary Jonathan Reynolds that Government has launched the Plan for Steel Consultation. This marks a significant commitment to tackling the key challenges facing our industry, including high electricity costs, unfair trading practices, and the need to strengthen domestic scrap steel recycling, with Trump’s tariffs being the latest in a number of international trade and competitiveness hurdles.

12 February 2025: Heathrow’s new investment programme, building on its £2.3bn expansion plans and the development of proposals for a third runway to be submitted to Government by summer, marks a transformational moment - not just for the aviation sector, but for the entire UK economy. UK Steel is proud to support this landmark project as the airport sign the UK Steel Charter.

11 February 2025: UK Steel responds to confirmation of US tariffs on UK-made steel. The US Presidential proclamation claims steel imports from Australia, the EU, Japan, and the UK rose from 18.6% in 2020 to 20.7% in 2024, proving quotas ineffective. However, this ignores 2020’s historically low demand during the pandemic – and UK steel exports to the US were actually 14% lower in 2024 than in 2018 when tariffs were first introduced.

10 February 2025: UK Steel reacts to President Trump announcing new 25% tariffs on steel and aluminum imports to the US, raising concerns over their impact on existing trade agreements, including the UK's tariff-rate quota system.

7 January 2025: UK Steel is pleased to reveal that the Government has today unveiled that the Steel Council’s inaugural meeting will go ahead later this afternoon. Many of the struggles stem from years of inadequate policy support and a lack of favourable business conditions, with the compounding effect of international steel making overcapacity and high electricity prices. However, this has now changed.