UK Steelmakers seek government help

The Guardian on the steelmakers plea for government support: I bring you the final sentence:

"Gareth Stace, director of UK Steel, said: 'If the sector is to continue its vital role supplying the rest of manufacturing, then we simply cannot afford to stand by. Government has within its power the gift to take immediate steps which can alleviate pressure in the short term'.”

Is this economically justified? Or is British steel perfectly substitutable and thus there is little justification for any protectionism? Who benefits? Who loses out?