New research into future market opportunities for UK steel

Plans of new research into future market opportunities for UK steel were agreed yesterday at the second Steel Council meeting.

The Steel Council meeting, which is chaired by the Business Secretary Sajid Javid and the Chair of UK Steel Jon Bolton, is attended by representatives from across the industry to build on the work of a series of Ministerial Working Groups, and look at the longer term future of the sector.

Established last year, it aims to consider how industry and government can strengthen the capability and competiveness of the UK steel industry. A number of ‘asks’ have already been delivered.

The new research, which will be commissioned shortly, will be used to comprehensively map current capability of the UK sector, identify high-value opportunities in new markets and look at how to overcome potential challenges or barriers that are preventing industry from diversifying and meeting future demand. It will help inform how government can best direct R&D investment and build future skills capability.

As well as discussing future capability, the meeting also discussed energy, procurement and trade issues, acknowledging that much progress had been made.

Business Secretary Sajid Javid said: “Thousands of workers, businesses and communities up and down the country depend on the steel industry for their livelihoods, and I am determined to ensure a long-term sustainable future. That is why the work of the Steel Council is so important in enabling government and industry to work together to consider both the current and future needs of the industry and how best to meet them.

“Much progress has been made – and I was delighted to welcome the new company British Steel to today’s productive meeting. We recognise there is more to do and this new research into future capability will help to ensure we build on our world-leading status in developing new and innovative steel products.”

The Steel Council builds on the work of the Steel Ministerial Working Groups which worked to identify solutions on short-term issues identified by industry such as emissions regulations, energy cost exemptions and anti-dumping measures.

 

The post New research into future market opportunities for UK steel appeared first on UK Construction Online.