Gadchiroli pitched as Maharashtra’s future green steel hub India set to drive next global steel demand wave Italy crude steel output rises 3.1% in May Green steel progress remains slow worldwide
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Additionally, UK Steel urged the government to abolish the Carbon Price Support—a tax on power generators—citing it as outdated and economically damaging.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.
Also Read : Govt completed 281 central infra projects in FY24 Tata Steel buys out BlueScope stake in Tata BlueScope Steel for ₹1,099.97 crore
✅ Import scrap prices rise by ₹500–₹800/MT due to supply shortage.✅ Higher freight costs and...
Business 20-Mar-2025
Tropical Cyclone Narelle has disrupted iron ore exports in Western Australia after forcing the...
Australia 27-Mar-2026
Union Steel Minister H.D. Kumaraswamy has called for the urgent adoption of clean technologies in In...
Announcement 20-Jun-2025
Turkey and the European Union have stepped up talks on the implementation of the Carbon Border...
Europe 25-Mar-2026
India's steel industry, which is already struggling with cheaper imports, is concerned about increas...
Ferrous 16-May-2024
Vedanta Group's $894 million bond interest payment, which was due on February 9, was processed seven...
Large Corporate 26-Feb-2024