UK SBS PS16168 Future Capacities and Capabilities of the UK Steel Industry

The dynamics of the global steel industry have changed significantly in recent years. From the peak reached in 2011 to the start of 2016 the price of steel has more than halved, with contributing factors including overcapacity at a global level, weaker demand in Europe and expanded supply from China. The steel industry in the UK is already under significant pressure from these forces, as demonstrated by the closure of SSI UK’s Redcar steelworks in 2015. Throughout the global steel price downturn, the department has provided ongoing support to Britain’s steelmaking and British steelworkers to deliver a long-term, sustainable sector. That support has already seen tens of millions of pounds …

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