Should the UK keep steel plants?

Not really been following this but i am sure i heard a sound bite the other day when the news first broke... they were losing a million pounds a day !

How is that viable to keep it open if that figure is correct - more to the point maybe is how come its costing that much to keep the plant open, could we do anything to reduce costs to make it viable?

I think the difference between the Government propping up the banking industry and propping up the steel industry is threefold. Firstly I think over the last 30-40 years all Governments have put their eggs into one basket and have tried to make the UK the main financial hub of the world. This has been done at the expense of our manufacturing industry. I cannot think of any other failing industry other than the financial sector that has been saved by a Government. If they hadn't saved the banking sector, there would have been no steel industry, one could not have survived without the other.

Secondly you have the likes of China, importing millions of tons of steel at an uncompetitive rate which British Steel cannot compete with. Why? Because we have an unelected organization called the EU which drags down every industry in the UK with rules, regulations and climate change policies, which China are not answerable to.

Thirdly, you then have the remaining British industry in a time of austerity buy steel from China instead of buying British steel. You cannot blame other UK industries from doing this if their saving thousands of ££s as well as jobs. So it ends up in a vicious circle, which will eventually mean we all lose out. I know this is off topic but I really cannot see any benefit of being in the EU, we will continue to trade with Europe just like we have and just like the rest of the world currently does. Sadly I fear it may be a bit too late for the workers of British Steel...Lastly there use to be a 'Buy British' campaign, not sure whether one still exists, if not maybe it should be re-booted...

I would say keep it running , but as I am not really following it nor do I know much about it ,but if it is a loosing battle is it worth keeping.. Or if they diversified a bit like a lot of other companies have had to do ,it may be worthwhile

Well what an interesting development, the brand British Steel is to be reborn 

Tata Steel has sold its Long Products Europe business, including its Scunthorpe plant, to investment firm Greybull Capital for a token £1 or €1.

The move will safeguard 4,400 UK jobs, but workers are being asked to accept a pay cut and less generous pension arrangements.

Greybull said it was arranging a £400m investment package as part of the deal.

The business will be rebranded as "British Steel" once the deal is completed in eight weeks, it said.

The new business would include the Scunthorpe works, two mills in Teesside, an engineering workshop in Workington, a design consultancy in York, a mill in Hayange, France, and sales and distribution facilities.

Tata announces Scunthorpe plant deal - BBC News

Sounds like it could be win win if they can make it work. Sounds like some pain a head as they need to streamline the business to make it viable, but better a reduced steel industry than none at all.

Maybe optimistic noises finally for the steel industry? Or is it a stay of execution?

China has "absolutely recognised that it is a problem of overcapacity in their country", Mr Javid said.

"They're committing to do something about it and I think that's a very positive step forward."

However, he admitted that there was no "overnight solution" to the issue of excess production

China commits to cutting steel production, says Javid - BBC