UK Steel calls for policy support to boost competitiveness of steel industry

12 June, 2024 by

The UK-based trade association UK Steel has stated that the country’s steel industry is battling sliding competitiveness and increasing imports, and it is calling for policies ahead of the general election in the country scheduled to be held on July 4 to level the playing field and boost the competitiveness of the industry.

The association has published an election manifesto that sets out a comprehensive strategy to secure the industry. The future of the UK’s steel industry depends on its ability to decarbonize, and so the manifesto outlines seven key policy pillars including lowest industrial electricity prices in Europe, steel scrap competitiveness and recycling capability, government-industry partnership, investment in innovation and a UK CBAM by 2026.

“Our industry is critical to our nation’s future, and we should not be importing nearly 70 percent of the steel we use in the UK from abroad. From uplifting regional economies and supporting jobs, to rail projects and much-needed construction of new homes, through to building new wind turbines and hydrogen infrastructure to power the country, our manifesto makes it clear that steel is critical to everything,” Gareth Stace, UK Steel director general, said.

Read more: Taiwan’s iron and steel export value down 10.7 percent in January-May

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