Action to reduce high electricity costs for UK industrial users could boost domestic ferrous scrap consumption at UK steel mills, senior UK steel executives said this week.
"We have a raw material in this country, which is steel scrap, and we're all consumers of that scrap, but 70% of it is being exported," Chris Hagg, head of external affairs at long steel producer Celsa Steel UK, said. Hagg was speaking at UK manufacturing body EEF's annual conference in London on Tuesday February 20. "So you have scrap exported somewhere else, they produce steel from it and the end product ends up [being sold] back in this country," Hagg said. UK mills used 3.60 million tonnes of steel scrap as production feedstock in 2016, according to industry group UK...