Steel News 2023

18 December 2024: By confirming a CBAM from 2027 instead of matching the EU’s 2026 timeline, the Government risks high-emission steel being dumped in the UK from 2026 when the EU CBAM takes effect.

4 December 2023: A new report, unveiled by UK Steel, urges the Government to capitalise on the UK’s current competitive advantage, that we generate over 10 million tonnes of steel scrap each year, to create the conditions needed for a vibrant, circular economy that makes the best domestic use of this vital material.

22 November 2023: The Chancellor has today missed a major opportunity to confirm that the UK will implement a Carbon Border Adjustment Mechanism (CBAM) in his Autumn Statement. UK Steel, the trade association for steel companies in the UK, says that the country is now in danger of playing catch-up with the EU on timetables, leaving a critical, trade-exposed industry at risk.

13 November 2023: UK Steel has today launched a report showcasing the vast chasm between UK industrial electricity prices and what European competitors pay, setting out four recommendations to deliver competitive electricity prices for the UK steel industry.

6 November 2023: UK Steel comments on British Steel's proposed plan for £1.25 billion investment to adopt electric arc furnace steelmaking. With British Steel’s announcement, it is clear the UK steel sector is completely committed to rapid decarbonisation. Just one year after publishing the sector’s Net Zero roadmap, the UK’s major steel producers are taking crucial steps to decarbonise by 2035.

23 October 2023: We welcome Labour’s continued commitment to the future of our steel industry. Steel is a strategically vital core product that no developed economy can be without.

11 October 2023: The Government has today published the Network Charging Compensation scheme. This follows the announcement of the Industrial Supercharger Scheme in February and a consultation with industry on network charges. Today’s announcement confirms that Government will compensate industry for 60% of the network charges it faces.

2 October 2023: UK Steel has today unveiled its report “Why the UK needs a strong steel sector”. The UK’s steel industry is the bedrock of the UK’s supply chains, central to the country’s economic potential and our resilience at a time of geopolitical turbulence. Now is the time to be bold and seize the opportunity to lead the world by building a Net Zero steel sector.

15 September 2023: "This is an important day for the UK steel sector. Government has confirmed its firm and bold commitment to the future of steelmaking here in the UK."

5 September 2023: Andy Street, Metro Mayor for the West Midlands, signed the UK Steel Charter, committing to using UK-made steel wherever possible in key projects in his region.

4 July 2023: The Government published its response to its UK Emission Trading Scheme (UK ETS) consultation announcing that the scheme will have a tighter limit on industrial, power and aviation emissions, maintaining the existing free allowances until 2026.

12 May 2023: UK Steel releases its latest statistics report which shows production levels of UK steel in 2022 dropped to their lowest since the Great Depression.