Article 50: what Brexit will mean for the UK's flat steel trade
The UK is set to trigger Article 50, starting the two-year process for withdrawal from the EU28 group of countries. The Prime Minister has already signalled that the UK will leave the single market upon exiting the EU. The UK leaving the EU customs union creates problems for both sides, but there is more at stake for the UK steel industry. The UK joined the European Community in 1973 and UK steel producers have now had 44 years of integration. Access to the EU flat steel market is important for UK manufacturers and critical to cross-border supply chain management. With a high level of government intervention, crude steel producers and manufacturers could both benefit from Brexit, but early indications suggest that this will not be forthcoming. It will not be easy for the UK flat steel industry to go it alone and UK steel producers look likely to lose out.