Bulk of UK scrap steel is exported, which industry groups say could cost up to £5bn in lost revenue and 20,000 jobs
Metals recyclers are at loggerheads with the British steel industry over a call to limit lucrative scrap exports so steel can be reused by UK furnaces.
The British Metals Recycling Association (BMRA) claims a ban on scrap steel exports to less wealthy countries could cost £5bn in lost economic activity and as many as 20,000 jobs. Steelmakers in the UK are keen to retain the metal to melt down into new steel.
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