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UK steel industry continues weak performance

16 Aug 2019 14:45 reported by Sharon Hung

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According to statistics announced by the UK steel industry this week, it seemed to be not optimistic about the UK domestic steel industry due to the recent British Steel incident.

Crude steel production in the UK began to decline after 1997. In 2018, there was a production at only 7.3 million tons, including a total of 5.7 million tons of steel by alkaline oxygen converter steelmaking from the last two integrated steel mills in the UK.

Besides, the total output from those facing crisis’ steel mills in Scunthorpe could contribute over 1 million tons, and that had exacerbated UK crude steel production.

In terms of exports, the EU was also the main market for the UK, reaching an export volume of 2.8 million tons in 2018. Therefore, a transaction in the EU was very important for the UK steel industry.

The UK steel industry also proposed a huge difference between France and Germany in terms of energy costs.

In addition, the UK steel industry's electrical wholesale costs, transportation costs and so-called policy costs were also higher than these two countries.

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