Ministers favour merging all UK steel companies into one

The UK government is considering a plan to merge all six steel companies in the country into a single entity, according to reports. The move is aimed at addressing the ongoing challenges faced by the struggling steel industry. The sources suggest that the government believes consolidating the steel companies could help improve their financial viability and competitiveness in the global market. The plan is still in the early stages, and the details are yet to be finalized. The UK steel industry has been facing significant headwinds, including high energy costs, overcapacity, and competition from cheaper imports. This has led to plant closures and job losses in recent years. The proposed merger is seen as a potential solution to strengthen the industry and make it more resilient. However, the feasibility and implications of such a move will require careful consideration and consultation with industry stakeholders. The government's decision on this matter is expected to have far-reaching consequences for the future of the UK steel industry and its workforce.