Tata Steel warns government that UK steel sector faces critical risk
Tata Steel said the UK steel industry is under serious threat and called on the government to take urgent action. The company's representatives stressed that in the current conditions, the industry is at a critical point and may face irreversible consequences if the necessary steps are not taken within two months. Russell Codling, director of market business development at Tata Steel UK, told the Parliamentary Committee on Business and Trade on Tuesday that the British steel sector is under pressure due to increased steel imports from China at low prices. He stated that although the government is working on this issue, there are currently insufficient mechanisms to properly protect the domestic industry. Codling recalled that protective duties of 25% applied to certain types of steel products expire in June, and stressed that these measures should be extended or quickly replaced by a new system. Tata Steel has called on the government to expand existing protective measures or urgently announce new import tariff regulations. He also drew attention to the protective measures taken by the EU and the United States against steel imports, and stressed that the UK should take similar steps. Otherwise, he warned that the British steel industry could weaken significantly within a few months. A company spokesman said that the government has two months to take measures to protect the British steel industry, adding that the solutions should be implemented by July 1, as this deadline is crucial for both the sector and its supply chains.
Author: SteelRadar Editorial Team
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