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Emergency law passed to force loss-making steel companies to keep operating
(www.theguardian.com)
this post was submitted on 13 Apr 2025
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Mainly because they are unprofitable edit: typo reversed my meaning.
The gov is considering nationalisation but to keep the active ability in the UK not for prifit. It was announced this morning that the plant would likely have to run at a loss.
I agree we should nationalize it. And if we are losing money anyway. Use the steel for most gov projects etc.
But parliment is not considering it practicle for us to sell steel at a compeitive rate to china amd other cheap labour nations.
And as of now. Even the quality is not likely to be a huge selling point. As china etc are very able to make quality steel now.
Not who you responded to, but from the article:
“Blast furnaces in the UK have been loss-making for the better part of a decade and been economically unviable due to competition from Chinese and Indian blast furnaces, along with rising energy costs in the UK.”
Which makes me think there isn't much profit to be had even for business, I imagine China invested with the long term plan of effectively cornering the UK market and eventually shutting the plant down, increasing our reliance on Chinese steel.
And was the loss of money from the plant British money, or Chinese?
Either way, I am also in agreement that it should be nationalised.
Yeah. Chinas attempt to close the plant. Even while the gov was offering to provide the fuel costs etc.
Makes it clear nationalisation os the only why we can ensure the plant is kept able to produce steel.
The chinese owners know full well shutting it down is akin to disabling it. And wanted to walk out doing that.
The workers who kept it running while the gov got this bill running. Deserve some seriose credit here.