This note examines the role of Global Value Chains (GVCs) in the context of the steel sector. GVCs, a prevailing phenomenon in the globalised modern world, are characterised by the interaction of domestic value chains across different economies for the production of a certain good. Input-Output (I-O) analysis represents a novel methodological framework that provides a better understanding of the role played by different types of inputs in the generation of comparative advantages. Indicators constructed through I-O data have the potential to shed new light on the intricacies of modern steel global value chains and on the generation of comparative advantage at sub-sectorial level compared to standard measures.