November 22, 2008

Constructional steel output in 2009 to fall by 5% in UK

Construction Journal reported that constructional steel output is expected to fall by 5% in 2009, as rising materials prices and the credit crunch start to affect the sector.

Mr Richard Barrett president of British Constructional Steel Association's during the annual lunch said that the underlying demand for steel construction remains sound.

Mr Barrett said that output hit a high of 1.462 million tonnes in 2007, although this was expected to fall slightly in 2008 to around 1.4 million tonnes before dropping by about 5% to below that figure in 2009.

Mr Barrett added that "Steel is in good shape and looks forward to the future with confidence.”