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British Steel under discussion with government for issues brought by Brexit

15 Apr 2019 11:54 reported by Margaret Yeh

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It was reported that due to failure to pass a Brexit agreement, the British Steel Corporation (BSC) was under discussion with British government for support.

BSC was the second largest steelmaker located in Scunthorpe, with annual capacity about 2.8 million tons.

The EU determined to exclude UK-based industries for carbon trading system that was about industries who could use their allocation paying for their emission from previous year. The decision brought BSC a cash-flow shortfall and an £100 million loan was required to its government urgently.

The spokesman from BSC said that industries in British are facing different challenges after Brexit and they continued searching more growth and expanding opportunities.

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