If not there will be no benefit to the global climate - in fact there will be an increase in emissions due to the emissions of transporting the steel.
I don't see how there will be any reduction in emissions, unless it means there is less virgin steel used, globally.
We produce 10mn tonnes of scrap steel p.a. and use 2mn. tonnes, world emissions will be reduced because of the reduction in the 8mn tonnes of scrap steel that we currently export per annum.
The UK uses some 15mn tonnes of steel, so rather than import millions of tonnes of raw materials, including coal, and export 8mn tonnes of scrap, we could reduce both import and export journeys
https://libertysteelgroup.com/uk/greensteel/
Current Electric Arc Furnace tech allows high quality steels to be produced, key is the tech to sort scrap to get the "mix" right.
The mix can include Direct Reduced Iron (pig iron), which can now be produced without a blast furnace using reformed natural gas rather than coke/coal.
If we buy wisely, then we use pig iron from a lower emitting method produced nearer to home. An alternative is not to become the only G20 country without virgin steel production and invest in our own lower carbon production.
Other countries have more competitively-priced energy, which is definitely something to address if we're to reduce import/export emissions further by producing our own steel
The other problem with blast furnaces is that they are difficult to stop/start and tend to run constantly. Electric Arc Furnaces are more responsive in that respect, saving emissions when less steel is needed.
Climate change isn't solely a UK or European problem. Other producers need to do their bit too