Key facts
- Norwegian steel startup Blastr is the preferred bidder for Speciality Steel UK (SSUK).
- The UK government has entered a period of exclusivity with the preferred bidder.
- SSUK's assets include steelmaking facilities in Rotherham and Stocksbridge.
- The intention is to restart steel production at the Rotherham EAF unit.
- Blastr aims to become a low-carbon integrated steel producer.
Norwegian steel startup Blastr has emerged as the preferred bidder for the UK's Speciality Steel UK (SSUK), a move that could lead to the restart of steelmaking operations at dormant facilities. The UK government confirmed that a period of exclusivity has been agreed with the bidder, which includes sites in Rotherham and Stocksbridge.
Industry representatives are hopeful that Blastr's acquisition will revive the electric-arc furnace (EAF) unit in Rotherham, which has been largely inactive. SSUK, previously owned by Liberty Steel, entered government receivership after its liquidation in August 2025. The exclusivity period is expected to last around five weeks, during which Blastr will progress its bid.
Blastr, established in 2021, aims to become a low-carbon integrated steel producer. The company has previously outlined plans for significant steel capacity in Finland and explored a direct reduction (DR) pelletizing facility in Teesside, England. The SSUK assets, including the Rotherham Steel & Bar mill with a 1.3 million tpy EAF, Brinsworth Narrow Strip, and Stocksbridge High Value Manufacturing, were unable to continue operations due to a lack of financial capital for raw materials.
Before its stoppage, SSUK was a major domestic scrap consumer. The idling of its Rotherham EAF, alongside other industry shifts, contributed to a significant slump in UK steel production, which fell by 38% year-on-year in 2025. Industry bodies like UK Steel and trade unions have welcomed the news, seeing it as a crucial step towards securing the future of the business and ending uncertainty for its members.