Liberty Steel UK cuts steel production

Instead, the group wants to focus on high-value alloy steel production to remain competitive.

"Despite £200 million ($244 million) of shareholder capital injections over the last two years, production of some commodity-grade products at Rotherham and subsequent producers has become unsustainable," Liberty said in a statement on January 12, and continued to cite high energy costs and imports from countries that do not have the same environmental standards as primary problems.

Restructuring Leaves Steel Production Uncertain

Steps to restructuring include reducing crude steel production at the Rotherham plant in South Yorkshire. In addition, the organization will source billets and slabs from third parties to continue rolling there and at the Scunthorpe merchant bar mill. A company official declined to specify how much Rotherham would reduce the meltdown.