21/06/2016 (Agence Europe) - Eurofer warns of Brexit risks to British and European steel. On Monday 20 June, the European Steel Association (Eurofer) expressed its wish for the United Kingdom to remain in the European Union. It also said that a Brexit "would represent another blow" to the UK steel industry, its value chains and the wider economy and would also have far-reaching effects on the European steel sector as a whole. Eurofer emphasises the United Kingdom's strong dependency on its steel exports to the European market and the fact that since 2015, 71% of its flat product exports and 65% of its long product exports were sold in EU countries. Eurofer explains that "In the event of a vote for Brexit, international businesses would reconsider their operational, commercial and investment strategies, which could have serious repercussions for the downstream client sectors of the UK steel industry. The resulting uncertainty, particularly during the negotiating period, could immobilise investment and compound currency volatility". It also underlines the "uncertainty" surrounding a trade agreement with the EU after a possible Brexit. (EH)