9,367.77 TRY BIST 100 BIST 100
4.79 CNY CNY CNY
34.56 USD USD USD
36.19 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
41.35 TRY Interest Interest
74.24 USD Fossil Oil Fossil Oil
30.90 USD Silver Silver
4.09 USD Copper Copper
100.80 USD Iron Ore Iron Ore
365.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,982.57 TRY Gold (gr) Gold (gr)

Tata Steel UK: Blast furnace closure plan threatens economy, warns Unions

Tata Steel UK has been warned by unions that UK steel production is threatened. Leaders are attempting to prevent a major impact on the local economy.

Tata Steel UK: Blast furnace closure plan threatens economy, warns Unions

Tata Steel UK has been warned by unions that UK steel production will be threatened if they close their blast furnaces. Leaders have made a "final attempt" to prevent retrenchments in South Wales in a move to avoid a major impact on the local economy.

Leaders have told Tata Steel UK that it must keep the blast furnace at its Port Talbot steelworks open until 2032 or the company will clearly put UK steel production at risk.

Tata Steel UK, which was expected to close two blast furnaces this month and lay off around 3,000 people, decided at the last minute to listen to the unions and postpone its announcement. The two main unions, representing workers, supported the proposals presented at a special meeting on Friday, organized in conjunction with consultants, in an effort to avert the expected damage to Port Talbot's economy and stop job losses for the foreseeable future.

According to reports, one of the unions was more sharply opposed to the potential layoffs. Nevertheless, Port Talbot, which has the capacity to produce around 5 million tons of steel a year, has postponed most of the work until March to build electric arc furnaces in a more environmentally friendly approach. The plan, which will take until 2027 to be operational, is expected to require fewer workers in the in the long terms.

Tata Steel UK will close another blast furnace in 2032 and build a new electric arc furnace. According to the information received, during the period specified, the forced terminations will be minimized and will be more manageable.

According to the source, Tata Steel UK, which allegedly has disagreements within itself, is willing to work with the government, but for this reason, they are also against the division of society and the sector.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Roadmap for India’s steel sector: Demand, imports and future plans

Friday, November 22, 2024

A new era begins in the Indian steel sector

Thursday, November 21, 2024

China's HRC, CRC and rebar production decreased y-o-y in October

Thursday, November 21, 2024

HRC prices decline from China to Middle East

Thursday, November 21, 2024

EU construction decreased in september

Thursday, November 21, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now