Call for input on the forthcoming steel strategy

The government say steel has a huge role to play in driving growth.

The Department for Business and Trade has launched a consultation on a forthcoming steel strategy. The government is seeking views both on the wider direction that the UK steel sector should take and the detail of the proposed areas of focus for the strategy. Members familiar with the needs of the industry are encouraged to contribute to the IOM3 response.

The steel strategy will be the government’s plan for supporting the sector to exploit available opportunities to deliver growth, including those associated with the rise of advanced manufacturing and clean energy. It will complement the forthcoming modern industrial strategy and will seek to establish an ambitious long-term vision for the steel industry, analyse gaps in current capabilities and identify what measures are needed to attract new private investment in steelmaking. Up to £2.5 billion of funding and finance will be available through the National Wealth Fund for investment opportunities supporting the sector.

Some key areas being explored in the development of the strategy include understanding future market opportunities, stimulating demand for domestically produced steel, bolstering the UK’s capability in scrap metal processing, exploring the influence of electricity prices on the sector, protecting the sector from global market risks, outlining the role of steel in the UK’s decarbonisation efforts, utilising the UK’s R&D capacities and attracting a skilled steel workforce.

The consultation questions include the following:

• What are the strengths of the UK steel sector and the biggest challenges it faces?
• What needs to be achieved in 5 years’ time to be on track to deliver a successful and competitive steel sector in 2035?
• How can UK government and the UK’s steel sector promote the use of UK-made steel in the private sectors?
• What actions should UK government take to encourage more domestic processing of end-of- life vehicles, or encourage stronger circularity of domestic scrap flows, either within the scrap industry or within vertically integrated steel businesses?  
• What are the biggest opportunities for decarbonisation in steel? 
• How important is buying ‘green’ or low CO₂ steel to industry right now? How important will it be in the future?
• Are there any measures government should explore to reduce the risks of carbon leakage for the UK Steel Industry?
• How can UK government encourage innovation in the steel sector, enhance collaboration and increase investment in RDI?
• What skills does the industry need today and how are they likely to change over the next 10 years? 

You can read the full consultation and list of questions here.

To find out more or to contribute to the IOM3 response, please contact Aoife Burke at [email protected].

Authors

Aoife Burke

Policy Officer, IOM3