Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
UK Steel is pressing the UK government for urgent reforms in the upcoming 2025 Budget to protect the competitiveness of the domestic steel industry.
The association outlined six key demands, including reducing industrial electricity prices to match European levels, as UK producers currently pay 14–25% more than competitors in France and Germany.
It also called for raising the Network Charging Compensation to 90%, retroactive from April 2025, to offset rising operational costs. Additionally, UK Steel urged the government to abolish the Carbon Price Support—a tax on power generators—citing it as outdated and economically damaging.
Another major demand is the immediate release of the pledged £2.5 billion decarbonisation fund to modernize steelmaking infrastructure and secure jobs. UK Steel also emphasized the need to safeguard UK-EU trade quotas and reform the UK Emissions Trading Scheme to align with EU carbon pricing and avoid a competitive gap under the Carbon Border Adjustment Mechanism.
UK Steel warned that without swift policy action, the industry faces rising costs and a weakened position in the global push for low-carbon manufacturing.
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