Steel Industry News – Late August 2025
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The UK’s third-largest steelworks has been placed under government control, creating an uncertain future for nearly 1,500 workers in Rotherham and Sheffield.
Insolvency courts granted a compulsory winding up order sought by creditors owed hundreds of millions of pounds by Speciality Steels UK (SSUK) – part of the Liberty Steel metals empire of controversial tycoon Sanjeev Gupta.
The company, which uses scrap metal to manufacture steel, will now be placed in the hands of the official receiver – a government appointed liquidator – and special managers from consultancy firm Teneo.
UK metals companies are threatening to sue the government after tariffs were abruptly imposed on raw steel imports from Asia, causing major disruptions for manufacturers.
The dispute follows a decision earlier this summer by Business Secretary Jonathan Reynolds to reduce the amount of raw steel from Vietnam and South Korea that can enter the UK tariff-free.
The move was intended to protect domestic steel producers from cheap imports.
