Steel construction industry in UK has been hit hard with two major steel section suppliers British Steel & ArcelorMittal Commercial UK hiking prices by GBP 150 per tonne last week citing energy prices. This hike adds to 15 August increase of GBP 100 & GBP 250 in March taking total increase to GBP 500 or USD 578 or INR 46,000On the other hand, Thirsk UK based structural steel leader Severfield said that its performance in the first five months of the 2023 financial year has been strong, with several ongoing contracts expected to deliver significant profits in H2. Severfield said “UK and Europe order book stands at GBP 483 million on 1 September, of which GBP 363 million is for delivery over the next 12 months. 97% of the order book represents projects in the UK, with the remaining 3% representing projects for delivery in Europe and the Republic of Ireland.”Severfield added that it is also seeing a strong pipeline of further potential opportunities in the UK and in continental Europe, and it remains well positioned to take advantage of many of these. It said “Given the Group’s performance to date and the current visibility of future workload for delivery in the remainder of the 2023 financial year, we continue to expect to deliver further progress and a full year performance which is in line with our previous expectations.”
Steel construction industry in UK has been hit hard with two major steel section suppliers British Steel & ArcelorMittal Commercial UK hiking prices by GBP 150 per tonne last week citing energy prices. This hike adds to 15 August increase of GBP 100 & GBP 250 in March taking total increase to GBP 500 or USD 578 or INR 46,000On the other hand, Thirsk UK based structural steel leader Severfield said that its performance in the first five months of the 2023 financial year has been strong, with several ongoing contracts expected to deliver significant profits in H2. Severfield said “UK and Europe order book stands at GBP 483 million on 1 September, of which GBP 363 million is for delivery over the next 12 months. 97% of the order book represents projects in the UK, with the remaining 3% representing projects for delivery in Europe and the Republic of Ireland.”Severfield added that it is also seeing a strong pipeline of further potential opportunities in the UK and in continental Europe, and it remains well positioned to take advantage of many of these. It said “Given the Group’s performance to date and the current visibility of future workload for delivery in the remainder of the 2023 financial year, we continue to expect to deliver further progress and a full year performance which is in line with our previous expectations.”
