17/09/2026
What's happening in the world of steel today?
The UK steel market continues to move through a period of change, with pricing influenced by global supply, energy costs, import levels and changing trade measures.
Since 1 July, the UK has reduced tariff-free steel import quotas by 51%, with a 50% tariff applying to qualifying imports above the available quota. This is an important factor for UK buyers and is likely to influence both landed costs and material availability.
While these factors may impact the price of steel in the near future, there are also positive developments for UK steel production.
Significant investment is taking place to modernise the UK industry, including the transition to electric arc furnace (EAF) steelmaking at Port Talbot. The new facility is part of a wider move towards more modern, lower-carbon steel production and is expected to strengthen the UK's domestic steelmaking capability.
The UK Government's Steel Strategy also aims to increase the proportion of steel used in the UK that is produced domestically, with an ambition for domestic production to meet 40–50% of UK demand, compared with around 30% in 2024.
The UK currently imports around £7.4 billion of steel a year, while domestic production meets only around 30% of the country's steel demand. With significant investment now taking place in UK steelmaking, including the new electric arc furnace at Port Talbot, there is an opportunity to bring a greater share of that demand back into domestic production.
What to expect in the future: In the short term, we expect the market to remain steady but changeable, rather than seeing dramatic movements in either direction.
For customers, this could mean a more resilient UK steel supply chain over the longer term, with greater availability of domestically produced material alongside imports.
