A new report warns the UK could miss its chance to supply low-emission steel. New electric arc furnaces take three to six years to build. So decisions made in 2026 & 2027 determine capability for 2028 to 2031, exactly when demand from carmakers, offshore wind & grid projects peaks together. UK demand should rise 54% to 14 million metric tons by 2050, leaving a 7.3 million metric ton gap worth £93 billion. High electricity costs remain the biggest obstacle.