Great Britain

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UK launches consultations on introducing its own CBAM in 2027

The government has proposed seven duty rates – for each individual sector to be covered by the mechanism

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UK reduced imports of iron and steel products from Ukraine by 37% y/y in 2023

Imports of raw materials fell by 49.3% y/y, and finished products – increased by 0.6% y/y

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UK imposes new sanctions on Russian aluminum and copper producers

In particular, the two largest producers of aluminum in the Russian Federation have come under sanctions

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UK plans to extend safeguard measures on 15 categories of steel

The current measures expire in June 2024, and it is recommended to extend them for another two years

UK to start reviewing import quotas for hot-rolled steel

Revisions related to Tata Steel's plans to close blast furnaces in Port Talbot

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UK should stimulate domestic scrap consumption – expert

The low level of its use, in particular, is determined by electricity prices

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UK reduced steel production by 6.5% y/y in 2023

During the year, British metallurgists produced 5.6 million tons of steel

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Green transition of the British steel industry will cause a jump in demand for scrap

Industry associations call for consideration in the matter of export of raw materials and possible restrictions

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British equivalent of CBAM will affect stainless steel imports – MEPS

The country already depends on foreign supplies of these products

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UK plans to introduce a tax on imports of carbon steel by 2027

In this way, the government plans to protect the local industry from cheap imports from countries with less strict climate policies

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UK Steel calls for keeping scrap in the country for a green transition

Scrap should stay in Britain to help decarbonise the industry

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India is concerned about a potential British equivalent of CBAM

The country seeks to provide a mechanism for resolving these issues in a free trade agreement

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