The UK government nationalized British Steel, previously owned by China's Jingye Group, 15 months after intervening to prevent its closure. China's Ministry of Commerce expressed strong dissatisfaction, stating the move severely undermines Chinese companies' confidence in UK investment and threatens legal action.
The UK government has nationalised British Steel to protect 2,700 jobs in Scunthorpe and maintain the UK's last primary steel production capability, amid significant daily losses and uncertainty over its future.
Protesters will target Hyundai at a World Cup rally in Guadalajara, criticizing its business ties with mining company Ternium, accused of environmental damage and links to activist disappearances. The rally coincides with a Mexico-South Korea game.
UK ministers are considering dropping some planned steel tariffs after manufacturers warned of significantly increased costs. The government aims to balance protecting domestic producers with ensuring secure supply, while also addressing similar EU measures.
India rejects US allegations of excess production capacity in textiles and steel, arguing domestic output meets local demand driven by its large population. Industry bodies like TEXPROCIL state over 80% of textile production serves the domestic market, challenging US Trade Representative's findings.
Major German steelworks are reducing production due to the Deutsche Bahn's unreliability. Construction sites on key routes are disrupting raw material supply, leading to significant costs and economic damage.
Global steel overcapacity is set to increase significantly by 2028, driven by state subsidies and expansion outside OECD countries, particularly China. The OECD warns this trend threatens competition and the viability of domestic steel industries worldwide.
Steel production in Russia amounted to 5.4 mln metric tons in March 2026
