High energy prices, concerns over lower-priced imports and a lack of government support have put pressure on the U.K. steel industry, writes Mayuri Phadnis, Editor-Europe, Davis Index, in this article written exclusively for Recycling Today magazine.
High energy prices, concerns over lower-priced imports and a lack of government support have put pressure on the U.K. steel industry, writes Mayuri Phadnis, Editor-Europe, Davis Index, in this article written exclusively for Recycling Today magazine.
Lower-priced imports from Europe, high energy prices, weak demand and bearish sentiment have cast a cloud over the steel industry in the United Kingdom to the extent that participants are asking for governmental support. These include workers from Tata Steel, British Steel, Liberty Steel, Celsa Steel, Marcegaglia and Sheffield Forgemasters.
Workers unions also have raised concerns over layoffs if the current weakness in steelmaking continues. In July, members of the industry union Unite, as well as members of the trade body UK Steel marched to Parliament to raise their demands as the U.K. steel industry struggles to get back on its feet after the coronavirus pandemic.
Moreover, the ferrous market in the country is likely to feel the heat from these triple threats that are providing strong headwinds for the UK steel industry. How will these factors affect the industry, and is the UK government prepared to give the needed support?
Click here to read the full article that was first published in the Fall 2023 Scrap Recycling issue of the Recycling Today magazine.