China Accused of Attempting to Sabotage UK’s Final Primary Steel Mill
Accusations of sabotage have swirled the fate of the UK’s ultimate major steel mill, but Beijing has warned London against “turning economic and trade cooperation into political and security issues.” As the British government clearly nationalized the factory with hours of spare time, employees at the Scunthorpe factory in British Steel, the last crumb of […]
No guarantee British Steel plant will be able to continue, says business secretary | British Steel
The business secretary refused to assure Scunthorpe's explosion furnace would get the raw materials in time. The emergency government action says it means there is a “highly trusted bar” for Chinese companies to invest in key UK industries. Jonathan Reynolds refused to directly accuse British steel owner Gingy of obstructing the factory, but it is […]
UK Approves Bill to Halt Closure of British Steel by Chinese Owners
LONDON (AP) – British lawmakers have returned to Parliament from Saturday's Easter break to approve emergency rescue of the country's last factory that will make iron from scratch. Kiel Prime Minister Starmer supported the bill, which was intended to summon the sixth rare Saturday seat since World War II, primarily to block the Jinsy Group, […]
Emergency law passed to force loss-making steel companies to keep operating | British Steel
Faced with emergency laws that allow the government to instruct businesses to maintain losses in England, or criminal punishment for executives, was passed yesterday during an extraordinary sit-in in Parliament. As a small team of Prime Minister Keir Starmer and Cabinet Ministers sat on a rare Saturday on Friday morning to close the troops at […]
MPs Debate Measures to Prevent Chinese Owners Closing British Steel
LONDON (AP) – British lawmakers have returned to Parliament from Saturday's Easter break to approve emergency rescue of the country's last factory that will make iron from scratch. Kiel Prime Minister Starmer summoned a very rare Saturday lawmaker to discuss a bill aimed at closing two giant blast furnaces at the Scunthorpe factory in northern […]
House of Commons to be recalled to discuss British Steel nationalisation | British Steel
The House of Representatives was recalled on Saturday, and the House Speaker confirmed that it was discussing the nationalization of British Steel. The move comes after the Chinese company Jingye did not sign a contract to maintain the two explosive furnaces at its British Steel's Scunthorpe factory. The Commons is expected to sit at 11am, […]
Hundreds of Canadian steel workers hit with layoffs as Trump’s tariffs squeeze industry
Hundreds of Canadian workers have already been fired from steel factories as President Trump's tariffs narrow the industry. At least 200 members of United Steelworkers, the largest private sector union in North America, have previously lost employment, according to Marty Warren, the group's national director. United Steelworkers has over 225,000 members in Canada. And Canadian […]
Trump touts major Hyundai investment in US, including Louisiana steel plant
South Korean automaker Hyundai announced Monday that it will invest $20 billion in the US, including a new steel plant in Louisiana. President Trump promoted the news at the White House, celebrating the November election victory and the aggressive use of tariffs to target imports. “This investment is a clear demonstration that tariffs work very […]
Hyundai plans fresh $20 billion investment in US, including new Louisiana steel plant, as tariff threats loom
Hyundai plans to make a fresh $2 billion investment in the US, including a new Louisiana steel factory, becoming the latest major foreign company and moving more operations into the US to avoid looming tariffs. The South Korean automaker is planning to build a $5.8 billion factory near Donaldsonville, with the new facility being set […]
UK steel industry calls for capped energy prices amid Trump trade war | Steel industry
The UK steel industry is seeking high-energy energy prices to match France and Germany as businesses tackle the fallout from Donald Trump's trade war. Lobby group UK Steel has proposed that the government set the maximum price of energy through a difference agreement (CFD) prior to the announcement of the new steel strategy. British steelmakers […]