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Episode 9: Gareth Stace, CEO of UK Steel
Money Talks with Liam Halligan
English - October 25, 2021 12:42 - 25 minutes - 23.7 MBBusiness News Business News business business news finance finance news economy Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
This episode features Gareth Stace, the CEO of UK Steel – the trade body for the British-based steel industry, which still employs more than 30 thousand people.
For years, fierce international competition and high domestic costs has seen UK steel plants struggle to be competitive in a global market. Now, the coronavirus pandemic, and an increased focus on steel decarbonisation, are bringing the government’s strategy towards the sector into sharp focus.
In 2019, the UK produced 7 million tonnes of steel. China produced 142 times more. Energy costs, of course, are also key – for steelmakers and manufacturers in general – who tend to be heavy energy users. And, unlike for households, there is no energy price cap for firms.
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