Why does the UK need a strong steel sector?

💷Higher salaries across the country
📈£2.9Bn contribution to the economy every year
🚢£4Bn contribution to the balance of trade

How else does steel drive our economy?
👉uksteel.org/why

Why safeguards? Even a small amount of surplus steel coming to the UK would overwhelm the UK market.

🌏Most of these imports would be high-emission steel, particularly if the UK CBAM doesn't start before 2027, undermining UK steelmakers’ investments in Net Zero steelmaking.

How do steel safeguards work?

💡Safeguards can take various forms but the most common is a tariff-free quota – this allows the continuation of tariff-free imports at the same level or higher as the period before the safeguard was introduced.

#safeguards #Steel #UKSteel #ukmfg

🚨Steel could flood the UK market

If the UK CBAM policy is not designed correctly steel could flood into the UK - displaced from the EU - that didn't face a carbon price & undercut our domestic market with high-emission steel.

uksteel.org/UK-CBAM
#NetZero #CarbonBorder

🚢The EU is implementing a CBAM policy

🇪🇺The European Union is implementing a CBAM policy, initially phasing in reporting requirements from October 2023 before the CBAM compliance carbon costs apply from 2026 onwards.

So nearly 92% of the world doesn't pay carbon costs?

➡️The rest of the world either applies carbon pricing of less than £3/tCO2 or no carbon pricing at all.

👉91.8% of global steel production does not face carbon pricing comparable to the UK, if at all.

#Carbon #ukmfg #UKCBAM

📰 𝗡𝗘𝗪𝗦 | Following 7 months of formal and informal national level discussions with the UK trade unions, Tata Steel will proceed with its £1.25 billion investment to build a state-of-the-art Electric Arc Furnace in Port Talbot...

#GreenSteelFuture

Today we have been granted planning permission to build an Electric Arc Furnace at our #Scunthorpe plant – another important milestone for our £1.25-billion decarbonisation plan

Read the full story here: ow.ly/W86z50RstRQ

#BuildingSustainableFutures

All the reasons why safeguards exist are still in place and conditions have deteriorated.

🚨Steel safeguards remain critical to shield the UK from rising global excess capacity and inevitable trade diversion resulting from US Section 232 tariffs & the EU’s own safeguards.

🌏Do any other countries pay similar levels?

Japan and South Korea apply carbon pricing of around £10/tCO2e and produced 155 million tonnes of steel or 8.2% of global steel production in 2022.

#CBAM #CarbonZero #UKCBAM #Steel #ukmfg

🪧What are safeguards?

✅A type of trade remedies measure intended to address unexpected surges in imports damaging or threatening to damage domestic producers.

❓Who currently pays carbon costs?

Only the UK, EU, Canada, and New Zealand apply comparable carbon pricing (£30-£70/tCO2e), responsible for 155 million tonnes of steel or 8.2% of global steel production in 2022.

#CBAM #UKCBAM #CarbonBorder #UKSteel #ukmfg

UK Steel has officially launched a NEW policy paper setting out a framework for the UK's CBAM.

UK Steel has fired the starting gun - if the UK Carbon Border Adjustment Mechanism policy is not designed correctly, we will see steel flooding into the UK.

🔗uksteel.org/uk-CBAM

🆕🚨 #UKmfg firms are missing out on up to £10bn of investment due to a lack of awareness of funding sources, rising costs & political uncertainty.

That's according to our latest report – Finance: Opening Doors to Investment in Manufacturing – published today in partnership with…

Thank you Materials Processing Institute for hosting UK Steel this week and showcasing the world-leading research you do, from lab work and 3D printing to materials and furnace testing, to help the UK steel industry in its decarbonisation journey.

Sheffield Forgemasters is pleased to announce it has been granted the coveted ASME.org status as a key supplier of heavy forgings and castings to the #civilnuclear power market.

READ MORE 👇

sheffieldforgemasters.com/news-and-insig…