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Thu September 24 2020

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Steel production not recovering

24 Oct 11 Production of steel in the UK is now running a third lower than pre-recession levels in 2008, according to trade association UK Steel.

Steel output in the UK fell by 7.3% in the three months to September, to 179,000 tonnes a week, with a lower than usual pick up after the summer holiday season. A signififcant factor in the decline is the lack of demand for the construction industry.

UK Steel director Ian Rodgers said: "The summer holiday period is always relatively quiet but there is usually a distinct rebound. What is disturbing about these figures is that September output improved only slightly from August.

"This reflects nervousness right across Europe, with uncertainty meaning steel customers are keeping stock levels low with a knock-on impact on our output levels. Whilst this impact should only be temporary, it is clear that we cannot expect a strong rebound in the immediate future.”

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