British manufacturers have warned that a proposal to lift anti-dumping measures on a type of Chinese steel risks a flood of cheap imports and threatens…
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Steel industry bemoans missed opportunity to reform electricity prices
Manufacturers hit by plunge in demand over lockdown contend with high power costs as Brexit approaches
20 December 2020 • 1:59pm
Britain’s battered steel industry is under growing pressure after new data revealed a plunge in demand when Covid hit.
Steelmakers were hammered when manufacturers and building sites shut down early in the pandemic, which sent UK demand for the metal down 23pc to 6.4m tonnes in the first three quarters. Early indications suggest there was only a weak recovery in the final three months of the year.
A white paper setting out government plans for the energy industry also failed to address pleas from steel firms for reform of power prices. British producers pay far more for electricity than rivals in Europe, making it hard to compete.