The UK government has launched a consultation on its steel strategy to strengthen the industry through a £2.5 billion investment. The plan focuses on expanding domestic steel production, protecting against unfair trade practices, and increasing the use of UK steel in public projects.
The strategy will also assess energy costs for steel manufacturers and improve scrap metal processing, supporting the industry’s transition to electric arc furnaces (EAFs). British Steel has planning approval for an EAF at its Scunthorpe site, but the plan will also examine the future of primary steelmaking in the UK.
The consultation comes as the US considers imposing a 25% tariff on British steel imports, set to take effect on March 12. Business Secretary Jonathan Reynolds has emphasised the need for negotiations with the US to secure an exemption.
Industry leaders have welcomed the government’s initiative but stress the need for action on high energy costs and firm commitments to job security. The consultation is open until March 10.
