Invest Daily Pro
  • Economy
  • Investing
No Result
View All Result
  • Economy
  • Investing
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Top News

Steel industry urges government to choose British in offshore wind expansion

by
December 27, 2024
in Top News
0
Steel industry urges government to choose British in offshore wind expansion
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter

The UK steel industry is urging the government to commit to buying British steel as part of the country’s planned offshore wind power boom.

Wind energy now accounts for almost a third of the UK’s electricity generation, yet less than 2% of the steel used in offshore wind projects during the past five years has come from domestic mills, according to consultant Lumen Energy & Environment.

A new government steel strategy is expected this spring from business secretary Jonathan Reynolds, who aims to expand UK steel manufacturing capacity and capability against a backdrop of costly decarbonisation pressures. Gareth Stace, chief executive of industry body UK Steel, argues that prioritising British-produced steel for the UK’s rapidly growing offshore wind sector would strengthen domestic supply chains and deliver wider economic benefits.

Demand for UK windfarm steel is forecast to top 1m tonnes per year on average from 2026 to 2050, peaking at more than 2m tonnes—a marked leap from the 300,000 tonnes currently used annually. Most future demand, however, will be for plate steel, which is not produced at scale in Britain. Industry leaders say investment in new facilities hinges on government policies that favour local manufacturing over imports.

Stace contends that this approach would help reverse the sector’s decline and encourage steelmakers to invest, while also recognising the value of keeping such large-scale spending within the UK. He has called on ministers to regard British steel “by default” in public procurement decisions.

Government efforts to bolster domestic steel include a £2.5bn support package, some of which has been earmarked for projects such as replacing traditional blast furnaces with electric arc furnaces at plants in Port Talbot and Scunthorpe. Nevertheless, factories assembling turbine components in Newcastle and building monopiles in Teesside still rely on imported steel plate, highlighting the importance of a cohesive industrial strategy that boosts UK capacity.

ShareTweetPin

Related Posts

Marriott, Flutter, Coca-Cola among stocks poised to gain from FIFA World Cup 2026
Top News

Marriott, Flutter, Coca-Cola among stocks poised to gain from FIFA World Cup 2026

June 11, 2026
FTSE 100 edges higher as investors balance financial recovery and AI risks
Top News

FTSE 100 edges higher as investors balance financial recovery and AI risks

June 11, 2026
SAP stock tumbles 3%: why Oracle’s AI capex surge is hitting software shares
Top News

SAP stock tumbles 3%: why Oracle’s AI capex surge is hitting software shares

June 11, 2026
Dow futures surge 370 points: 5 things to know before market opens
Top News

Dow futures surge 370 points: 5 things to know before market opens

June 11, 2026
Why Claude Mythos Preview is a wake-up call for Wall Street
Top News

Why Claude Mythos Preview is a wake-up call for Wall Street

June 11, 2026
SpaceX IPO’s valuation battle has bulls aiming share at $165 while bears see $63
Top News

SpaceX IPO’s valuation battle has bulls aiming share at $165 while bears see $63

June 11, 2026
Next Post
Labour backs £15m rescue fund to tackle food waste and feed those in need

Labour backs £15m rescue fund to tackle food waste and feed those in need

Recommended

New sites and spaces for Philippines’ lifestyle malls

New sites and spaces for Philippines’ lifestyle malls

September 19, 2024
Globe deploys dedicated 5G network for B2B

Globe deploys dedicated 5G network for B2B

January 5, 2025
Green is good: Why more developers eye green certifications for buildings

Green is good: Why more developers eye green certifications for buildings

September 8, 2024
CA freezes Duterte friend’s assets

CA freezes Duterte friend’s assets

August 8, 2024
How Microsoft Philippines is shaping AI adoption

How Microsoft Philippines is shaping AI adoption

September 25, 2024
Megaworld eyes P3-B sales from Palawan project

Megaworld eyes P3-B sales from Palawan project

October 22, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Former Fed insiders raise new rate-hike concerns

    Former Fed insiders raise new rate-hike concerns

    June 17, 2026
    73-year-old beef producer shuts 2 plants, cuts jobs

    73-year-old beef producer shuts 2 plants, cuts jobs

    June 17, 2026
    Nike gets World Cup opportunity it can’t afford to waste

    Nike gets World Cup opportunity it can’t afford to waste

    June 17, 2026
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2026 investdailypro.com | All Rights Reserved

    No Result
    View All Result
    • Home
    • Privacy Policy
    • Terms & Conditions
    • Thank you

    Copyright © 2026 investdailypro.com | All Rights Reserved