Owner of British Steel seeks 'urgent' financial aid

Owner of British Steel seeks 'urgent' financial aid

3rd October, 2022

Jingye, the Chinese owner of British Steel, has asked the UK government for a rescue package of up to £500m to keep open its steel works in Lincolnshire, with insiders claiming thousands of people will be made redundant if ministers reject the request.

Korean steel industry faces supply disruptions

Korean steel industry faces supply disruptions

30th September, 2022

Supply disruptions loom in Korea’s steel industry as the country’s two largest steelmakers are struggling to fully operate their plants.

Six international banks to disclose carbon intensity of steel portfolios

Six international banks to disclose carbon intensity of steel portfolios

29th September, 2022

Six international banks have agreed to measure and publicly disclose the carbon intensity of their steel lending portfolios, in an attempt to push an industry reliant on highly polluting coal towards net-zero emissions.

Latest issue: September

September

You don’t need me to tell you that a major energy crisis is looming and that if action isn’t taken soon there will be big trouble for energy-intensive industrial sectors like the steel industry. Already, alarm bells are ringing. In the UK, a recent survey by MAKE UK suggests that rising energy costs are causing major disruption for half of those surveyed and that one in five companies believe that energy costs will be a huge issue for the next two years. For MAKE UK, the British Government should be treating the whole situation with the same urgency it attached to the pandemic and bring forward a package of measures to deal with the crisis. In fact, it is argued that the energy crisis might be a bigger threat to global manufacturers than the pandemic.

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