7 Steel UK welcomes Government Steel Strategy
The UK government has made a clear commitment to support the UK steel industry with its new Steel Strategy
7 Steel UK, the Cardiff-based producer of low-carbon steel, has welcomed the Steel Strategy from the UK government, highlighting the much-needed support required to secure the future of British steelmaking.
The government’s new Steel Strategy includes:
A target to increase UK-made steel from 30% to 50%, acknowledging steel as a strategic national asset
A proposal to reduce steel import quotas by 60% and impose a 50% tariff on out-of-quota imports
A commitment of up to £2.5bn for investment in the steel sector.
Alongside a clear commitment to support the UK steel industry, the Steel Strategy also confirms electric arc furnace (EAF) production as the future of UK steelmaking. This is something 7 Steel UK has led the way on at its Cardiff site, however, greater certainty is still required to deliver secure, competitively priced electricity.
While further detail is required to ensure the successful delivery of the UK Steel Strategy, its announcement signals a meaningful shift in how the UK Government intends to approach steel, industrial resilience and national supply chains.
Commenting on the Steel Strategy, Carles Rovira, CEO of 7 Steel UK, said,
“The UK Government’s Steel Strategy marks an important step forward for our sector. By maintaining robust steel safeguards and setting a clear path for long‑term industry competitiveness, the Government is giving businesses like ours the stability and confidence we need to invest, innovate and grow.
“These measures help ensure that high‑quality, low‑carbon steel made here in the UK can continue to support our critical supply chains and the thousands of skilled jobs that depend on them. It is very welcome news for steel workers and steel communities across the UK and especially in South Wales.
“We welcome this commitment to building a resilient, sustainable, and globally competitive UK steel industry and look forward to working with the government, alongside industry partners, to ensure the ambitions of the Steel Strategy are realised and support measures are effectively delivered.”
As a strategic sector that is critical to the UK’s economic resilience, the steel industry employs thousands of people across the country and underpins several industries, from construction through to infrastructure. Despite this, the industry has long faced significant challenges, directly feeling the effects of global overcapacity, volatile trading conditions and high energy costs, all of which have compromised investment and competitiveness.