#steel-industry

#steel-industry

Reopening a blast furnace is not an easy thing. We have to do everything we can to support the industry, including significant investment.

Steel is at the beginning of the value chain, so you create a lot of instability for all these supply chains that get disrupted that now all of a sudden have to deal with much more expensive steel.

The UK was the first country to secure a trade deal with the US earlier this month and we remain committed to protecting British business and jobs across key sectors.

Steel stocks are a bright spot after President Trump revealed a doubling of tariffs on steel imports to 50%, benefiting U.S. steelmakers.

The findings of the OECD Steel Outlook 2025 show there is an urgent need to address growing excess capacity, and the distortionary policies driving it, to ensure well-functioning global steel markets.

Nucor's flexible production method, combined with significant investments in AI and a commitment to sustainability, positions the company to thrive during the current steel industry downturn.

"I worked in one of those," he says. "I met people over the 1970s and 1980s whose lives depended on those workplaces and who assumed that that was going to be their life."

Energy is the biggest area. You need to have good energy [supply], and competitive energy pricing. At this time, when there is a struggle, it would help.

"They are disrupting supply chains. They bring uncertainty for the economy. Jobs are at stake, prices up, nobody needs that, on both sides, neither in the EU or the US."