Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
The UK government has rolled out new trade measures effective July 1, 2025, aimed at protecting its domestic steel sector from import surges and unfair competition. The key change is a significant reduction in the annual import growth cap for steel—from 3% to just 0.1%—limiting the volume of steel foreign producers can bring into the UK market.
Business and Trade Secretary Jonathan Reynolds emphasized that the move is part of the government’s broader strategy to safeguard UK jobs and industrial resilience. He stated that protecting the steel industry is essential for economic security and long-term growth.
The updated safeguards are part of a refreshed trade policy that emphasizes robust defence tools and smarter trade deals. The government has also initiated a review of country-specific quotas and will work with the industry to design new safeguards beyond 2026.
This action follows the Steel Industry (Special Measures) Act 2025, passed in April, which granted the government powers to intervene in preserving vital steel assets like blast furnaces in Scunthorpe.
Together, these reforms aim to strengthen the UK's steel production capacity, protect domestic jobs, and ensure a level playing field in global trade.
Also Read : Cabinet okays ₹75,000 cr rooftop solar scheme, 1 cr households to get subsidy of up to ₹78,000 Heavy industries ministry reauctions 10 GWh PLI for EV battery manufacturing
Adani Energy Solutions Ltd is seeking a credit facility for as much as $600 million to fund smart me...
Large Corporate 29-Mar-2024
The Odisha group of Mines (OGOM), operating under the Rourkela Steel Plant (RSP) of the state-run st...
Mid Corporate 28-Jun-2024
Kazakhstan has 15 rare earth deposits, which are strategically important components of electronics a...
Raw Material 22-Jan-2024
Power Mech Projects Limited (PMPL) launched a ₹563.23 crore nuclear power construction project. The...
Construction 29-May-2024
The Mines Ministry is seeking to guide and hand-hold Indian companies, both private and conglomerate...
Raw Material 19-Mar-2024
Indian Coast Guard (ICG) and Hindalco Industries inked a Memorandum of Understanding (MoU) to manufa...
Press Releases 10-May-2024