Insight
Article 50: what Brexit will mean for the UK's flat steel trade
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
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.
Table of contents
- How important is flat steel trade to the UK?
-
What will be the impact of Brexit on the EU flat steel trade?
- The default position – flat steel importers gain
- The protectionist position – steelmakers benefit
- The insular position – everybody wins ?
- The likely outlook – importers win, steelmakers struggle
Tables and charts
This report includes the following images and tables:
-
The UK is a net importer of all types of flat steelsProportionally, more value-added products are imported than commodity gradesTrade with the UK represents less than 3% of total EU27 flat steel imports and exportswhereas the UK sources 65% of coated-steel used from the EU single market
What's included
This report contains:
Other reports you may be interested in
Insight
What does closure of the Strait of Hormuz mean for the global LNG and European balance?
In this insight, we assess the impact of curtailing all LNG supply from Qatar and the UAE under three scenarios.
$950
Insight
Turning point: Do new tariffs have the US Automotive Industry in the fast lane or stuck in traffic?
Tariffs, trade, and turmoil: Will the U.S. auto industry shift into high gear or stall on the road to recovery?
$1,150
