September is a significant month.

Two years have passed since we announced our plans to transition to low emission steelmaking. It was on 15 September 2023 that we reached an agreement with the UK Government to jointly invest £1.25 billion to ensure the long-term viability of our UK operations.

Then, last September, we signed the £500 million Grant Funding Agreement with the UK Government which effectively allowed us to proceed at pace with the project. That September we also decommissioned Blast Furnace 4 at Port Talbot, a key milestone which marked the closure of our traditional heavy end operations and the beginning of the next phase.

I’m happy to report that those ambitious plans to transform our business – and the Port Talbot site – are certainly going according to schedule. After several key contract signings with project partners during the first half of this year, the groundbreaking ceremony in July heralded the start of works to prepare for the new electric arc furnace. We are very much on target to begin production from December 2027.

I am also pleased to have this opportunity to thank you, our customers, for your support during the transition phase so far. While it has been, and continues to be, an immense effort on our part – which I’ve likened to trying to build a flyover while the traffic is flowing over it – there is no question that the support from our customers has made a huge contribution. We’re seeing the benefits of long years of trusted relationships as we have worked together to qualify new substrate and make the new arrangements for operating as a re-roller. We appreciate how you have maintained your confidence and faith in Tata Steel throughout these changes.

It has been a steep learning curve for everyone, and we have found out how critical it is that our commercial teams can accurately forecast demand from our customers. Previously, we could be more flexible with shorter-notice orders. Today, with steel being imported from a number of different sources globally, we are working with longer lead times to allow for the steel to be made, shipped, disembarked and moved into the supply chain to be available for downstream businesses. It’s quite a new ballgame for our demand planners trying to forecast customer requirements, and we want to get it right. So, I would like to ask our customers to continue to provide us with deeper insights into your medium and long term needs. Thank you: this will be hugely helpful over the coming months and up until our EAF is up and running.

In the meantime, we’re continuing to find ways we can improve and help our customers. As steel market patterns change throughout the world, we are seeking to build in more efficiency and flexibility. We are examining further supply options for substrate to keep all our customers’ businesses running smoothly. We are looking at building on our Tier 1 supply base and will continue to reach out for qualifications, approvals and ongoing support. We will continue to search the market for the most efficient sourcing routes, while maintaining quality and ensuring environmental standards.

With tariffs, trade deals and the ever-changing nature of the steel industry, there will be plenty to discuss at the UK Metals Expo. I’m looking forward to meeting you there and being able to thank you personally for your ongoing support.