Market News
Call for minimum UK content in HS2 constructional steelwork
The British Constructional Steelwork Association (BCSA) is calling on the UK Government to introduce a minimum UK content of 90% for the HS2 infrastructure project, following news that an early contract for 9,000 tonnes of structural steel has been awarded to French company, Eiffage Metal. The basis for the BCSA’s campaign for 90% UK content […]
Wolverhampton’s former British Steel site bought by council as part of major Canalside development project
Wolverhampton’s former British Steel site has been purchased by the city council as part of the next step in a multi-million pound canalside living development. The now vacant nine-acre brownfield site is off Qualcast Road, next to the Wyrley and Essington canal basin, and will form part of the Canalside Quarter, made up of new […]
British Steel ready to make a ‘significant contribution’ to building UK recovery – CEO
‘Let’s build with UK manufacturers, build with UK steel and build a stronger future for everyone’ British Steel chief executive Ron Deelen has told how the ‘new’ business is ready to play a key role in the build-out of the UK’s recovery. He said the company’s “transformation remains on track” as he gave an update […]
Why green light for new HS2 railway could help secure future of British Steel in Scunthorpe
Confirmation that the new High Speed 2 railway line will go ahead could help secure the sale of British Steel, industry experts say. The Government has given the green light for stretches of the £100 billion-plus HS2 project from London to Birmingham and from the West Midlands to Crewe, although sections from Crewe to Manchester […]
Network Rail confirms bid for British Steel rail production facilities
Network Rail has made an offer for Scunthorpe’s rail service centre at British Steel. The business is one of several national network companies that relies on the company for rail, with contracts in place across Europe. It has stressed the “overwhelming preference” is for a buyer for the whole site, but is willing to step […]
British Steel: Officials line up Turkish firm Cengiz if Jingye bid falls through
Whitehall is thought to be lining up a Turkish backup bid for British Steel in case its sale to Chinese firm Jingye fails. Officials are holding talks with Turkish conglomerate Cengiz Holdings, according to the Guardian newspaper. The government insisted it was confident the £50m deal with Jingye would go through. However, a spokesperson refused […]
British Steel takeover ‘making progress’
The firm due to take over British Steel has said it is confident it will win approval for the deal in the new year. The statement by China’s Jingye comes after a newspaper report suggested the rescue bid could collapse. Jingye said it was continuing to make progress in securing the necessary approvals to complete […]
BCSA Publishes No-deal Brexit Conformity Guide
The British Constructional Steelwork Association (BCSA) has published a guide outlining how the steel construction sector can meet the requirements of UKCA Marking in the event of the UK exiting the European Union (EU) with no deal. Should a no-deal exit occur, the government will immediately introduce UK Conformity Assessed Marking (UKCA Marking) on exit […]
Downturn in EU Manufacturing Sector Suppresses Steel Demand
Activity in the EU strip mill product market was muted during the summer holidays. Numerous supply chain participants remarked that conditions were quieter than usual for the time of year. In early/mid-September, the market remained subdued. Procurement by distributors is still weak, due to concerns about their own tight resale margins. Overall demand indicates little, […]
US Steel Prices Rebound in August
US flat product steelmakers are bucking the seasonal price trend, by pressing for a rise in local values, despite the summer lull in activity. Domestic suppliers, in an attempt to stave off the threat of further losses, introduced a series of list price hikes, during the July/August period. Local mills had little option but to […]
