Steel News – Late March 2026
Estimated reading time 2 minutes
The government has set a higher target for the UK to make half of the steel it uses and has announced higher taxes on buying steel from overseas.
Imported steel quotas will be lowered and anything brought in above that level will be subject to a new 50% tariff, the business department said.
The UK steel industry, which has been calling on the government to shield it from cheaper steel made abroad, welcomed the measures.
Sourced from The BBC
____________________
UK Steel has welcomed forthcoming government guidance that will, for the first time, explicitly recognise steel as a critical sector for national security and prioritise the use of British steel in public contracts.
Under the new measures, government departments will be expected to use UK-produced steel or provide a clear justification where overseas sourcing is chosen, marking a significant strengthening of procurement policy following last week’s Steel Strategy.
The forthcoming guidance forms part of a wider package to boost domestic capacity in key sectors including steel, shipbuilding, AI and energy infrastructure, reflecting growing recognition of the importance of resilient supply chains and economic security.
Sourced from The Manufacturer
____________________
The government says thousands of skilled UK jobs will be supported and hundreds of millions invested into the economy through a new financing deal signed between the UK and Nigeria.
The £746m sum will be used to support the refurbishment of two of Nigeria’s major national maritime infrastructure facilities located in Lagos, the Lagos Port Complex (Apapa Quays) and the TinCan Island Port Complex.
It will be delivered through UKEF’s Buyer Credit Facility co-ordinated and arranged by Citibank, NA London Branch.
Sourced from The Business Desk
