World Economy

Call for EU Action

Call for EU ActionCall for EU Action

According to UK Steel the main cause of this disappointing output result has been the growth in imports, which rose to take around 60% of the market compared with 56% in 2013, BBC reported. Britain’s steelmakers are urging the European Commission to act on the dumping of cheap steel into EU markets on the back of data showing the sector’s recovery in the UK stuttered in 2014. According to the latest annual data from UK Steel, a division of EEF, output of steel in the UK in 2014 was virtually unchanged at 11.9 million tons, which was just 0.2% higher than 2013. This followed a strong performance in 2013, when output rose by 24%.  Overall, UK steel output is still 19% below pre-recession levels.