{ "query": "UK construction cost trends 2024 steel industry benchmarks NEC contract variance norms", "raw_results": [ { "url": "https://www.ons.gov.uk/businessindustryandtrade/constructionindustry/articles/constructionstatistics/2024", "title": "Construction statistics, Great Britain: 2024", "content": "In the 12 months to December 2024, there was growth in the all-Construction Output Price Index of 3.4%.\n\nAt the lower level, repair and maintenance, and new work output prices increased across the 12 months to December 2024 by 2.7% and 3.7%, respectively.\n\nMethodology improvements were made to a range of deflators used in the national accounts in Blue Book 2025, including changes to the repair and maintenance deflator. More information can be found in our Deflator improvements to the UK National Accounts: Blue Book 2025 article.\n\n## 6. Trends in the construction industry [...] ## 6. Trends in the construction industry\n\nIn 2024, the construction industry increased focus on sustainability following regulatory changes introduced early in the year, including enhanced energy efficiency requirements for new buildings and overheating mitigation standards. The sector saw greater adoption of low carbon technologies and sustainable materials, prompting a need for specialised skills. Consequently, industry-wide efforts were made to address the skill gap in low carbon construction. These developments have influenced project planning, procurement and costs, reflecting a broader transition toward environmentally responsible building practices (UK GBC, 2025 Trends in Sustainable Solutions for the Built Environment 2024). [...] This is the latest release.\n\nContact: \nConstruction statistics team\n\nRelease date: \n19 February 2026\n\n## Table of contents\n\nPrint this \nArticle\n\nDownload as PDF\n\n## 1. Main points\n\nThe value of construction new work in current prices in Great Britain during 2024 increased by 1.4% to £140,684 million; this increase was driven solely by a rise of 6.7% (£2,592 million) in public sector new work as the private sector fell by 0.7% (£688,000).\n\nConstruction new orders grew by 5.6% in 2024 to £71,707 million, driven predominantly by increases in private commercial, other public non-housing and private infrastructure; the only sectors to decrease were private new housing, public new housing and private industrial.", "score": 0.6757865, "raw_content": null }, { "url": "https://www.uksteel.org/steel-news-2024/key-stats-2024", "title": "UK Steel Key Statistics Guide 2024 report", "content": "#### 31 May 2024\n\nUK Steel’s annual Key Statistics publication takes stock of the state of the UK and global steel industry in numbers.\n\nThe UK steel sector directly employs 33,700 people and a further 42,000 in the wider supply chain, paying wages on average 26% higher than the national median and 35% higher than the regional median in Wales, Yorkshire and Humberside, where the majority of steel jobs are located. In 2023, the UK steel industry directly contributed £1.8 billion to the UK economy and an added £2.4 billion through supply chains, as well as £3.4 billion to the UK’s balance of trade. However, last year was a challenging year for the sector. [...] In this challenging market environment, UK producers continued to face high costs, both energy and raw materials, and high market volatility. While input costs have normalised compared to 2021 and 2022, they remain well above pre-pandemic levels and indeed iron ore and coking coal prices trended upwards, particularly in the second half of 2023. UK producers also continue to experience higher electricity prices than their competitors in France and Germany.\n\nIn a global steel market where government interventions abound, a level playing field remains at the crux of UK steel producers’ ability to compete, invest, decarbonise and innovate for a vibrant future.\n\nContact details\n\nChrysa Glystra, Trade & Economics Policy Manager, UK Steel\n\n07771 388692 | cglystra@makeuk.org [...] 07771 388692 | cglystra@makeuk.org\n\nAbout UK Steel:UK Steel is the trade association for the UK steel industry. It represents all the country’s steelmakers and most downstream steel processors.\n\nThe UK steel sector:\n\nFor further information about the steel industry, please see the press pack, Why the UK Needs a Strong Steel Sector or the 2024 UK Steel Key Statistics report.\n\nSecretary of State Jonathan Reynolds addresses the UK Steel Parliamentary Summit\n\nUK Steel sector calls on Government to unlock multi-billion pound opportunity in procurement reforms\n\nBusinesses write to Ed Miliband and Jonathan Reynolds over concerns about proposed zonal pricing model", "score": 0.56920683, "raw_content": null }, { "url": "https://estimedes.co.uk/en/steel-cost-per-tonne-uk", "title": "The Current State of Steel Costs Per Tonne in the UK in 2024 | estiMedes", "content": "## Factors Influencing Steel Prices\n\nSeveral factors can affect the cost of steel in the UK. Global demand plays a significant role; as countries ramp up construction, the need for structural steel increases, pushing up prices. Additionally, the cost of raw materials and energy required to produce steel are also crucial. These costs are directly passed on to the consumer in the form of higher per tonne prices.\n\nLabour costs and energy prices are also significant factors. The steel industry is energy-intensive, and fluctuations in energy prices can greatly influence the final cost per ton. Similarly, changes in labour costs, whether due to economic conditions or regulatory changes, can affect overall steel frame building prices.\n\n## Recent Trends in Steel Pricing [...] In summary, the steel industry in the UK is shaped by a range of dynamic factors, from global market trends to local supply chains. For those involved in construction and related industries, gaining a deep understanding of these factors, and regularly consulting with trusted experts, can make the difference in successfully navigating this complex market.\n\nRegistered At:\n\nHurlingham Studios, Ranelagh Gardens, London SW6 3PA, United Kingdom \n \n\nOffice Address:\n\n1-2 Grafton Court, Kettering Parkway, Kettering, Northampton NN15 6XR, United Kingdom \n \n\nEmail:\n\noffice@estimedes.co.uk \n\nTel:\n\n+44 333 444 33 44 \n\nRegistered in England and Wales No:\n\n11682011 \n\nVAT Registration Number:\n\n356 6686 51\n\n### Contact Form\n\n© 2023 CubeVis, All Rights Reserved [...] ## Recent Trends in Steel Pricing\n\nThe latest trends indicate a rise in steel prices across the UK. Factors such as increased international demand and higher costs for energy and raw materials have contributed to this increase. Moreover, the industry has faced supply chain disruptions that have exacerbated price volatility. Speaking to your local steel supplier can provide more personalized and location-specific insights, which is crucial for accurate budgeting.\n\n## Steel Price Forecast for the Near Future", "score": 0.48308808, "raw_content": null }, { "url": "https://www.steelconstruction.info/images/a/a0/Costing_Steelwork-24.pdf", "title": "[PDF] COSTING STEELWORK #24 - SteelConstruction.info", "content": "MARKET AND COST MODELS UPDATE COSTING STEELWORK #24 COSTING STEELWORK Forecast Quarter 2019 2020 2021 2022 2023 2024 2025 1 117.9 120.4 120.0 131.2 145.3 152.6 157.9 2 118.3 121.0 122.6 134.5 147.3 154.0 159.2 3 119.3 119.1 125.3 138.1 149.1 155.5 160.5 4 119.8 119.1 127.5 142.3 150.9 156.7 161.8 S P O N S O R E D F E AT U R E onstruction sector sentiment saw a bounce going into the new year. The jump reflected the on-going good overall levels of workload across the industry and most areas of the country. The output trend, which the sentiment readings reflect, are supported by Office for National Statistics data that underscores the reasonable activity still in the industry. The sideways move in output volume over recent months does raise a question about underlying momentum and which [...] Aecom index for consumer prices. The on-going mix of issues and current workload momentum will ensure that tender price inflation continues steadily over the first half of 2023. Aecom’s baseline forecast for tender prices is broadly a 5% increase from Q2 2023 to Q2 2024, and a 3.5% increase from Q2 2024 to Q2 2025. The balance of risks to forecasts of price trends is balanced evenly now over the first 12-month period, because of rising concerns across the financial sector globally and associated risks for the UK economy. [...] High rates of general price inflation remain an enduring problem, and the prospects are that it persists at elevated levels over 2023. Specifically for our sector, construction input cost and price inflation trends are likely to follow a similar narrative as that Costing Steelwork is a series from Aecom, BCSA and Steel for Life that provides guidance on costing structural steelwork. This quarter provides a market update and revises the five cost models previously featured in Costing Steelwork MARKET UPDATE C Figure 1: Tender price inflation, Aecom Tender Price Index, 2015 = 100 C O S T I N G S T E E LW O R K J U N E 2 0 2 3 TYPE Base index 100 (£/m2) Notes Frames Steel frame to low-rise building 152-185 Steelwork design based on 55kg/m2 Steel frame to high-rise building 256-289 Steelwork", "score": 0.4224814, "raw_content": null }, { "url": "https://www.gov.uk/government/statistics/building-materials-and-components-statistics-march-2024/construction-building-materials-commentary-march-2024", "title": "Construction building materials: commentary, March 2024", "content": "Download table 1 data\n\nThe material price index for ‘All work’:\n\n decreased by 1.9% in February 2024 compared to February 2023\n decreased by 1.6% in January 2024 compared to January 2023\n increased by 0.1% in February 2024 compared to January 2024\n decreased by 0.2% in January 2024 compared to December 2023\n\n#### Table 2: Construction materials experiencing the greatest price increases and decreases in the 12 months to February 2024, UK\n\n| Construction materials | (% change) |\n --- |\n| Pipes and fittings (flexible) | 20.3 |\n| Metal doors and windows | 17.0 |\n| Ready-mixed concrete | 11.1 |\n| Gravel, sand, clays and Kaolin - incl aggregate levy | -11.5 |\n| Fabricated structural steel | -15.8 |\n| Concrete reinforcing bars (steel) | -18.2 |\n\nDownload table 2 data [...] construction output is estimated to have decreased 0.9% in the 3 months to January 2024; this came solely from a decrease in new work (4.5% fall), as repair and maintenance increased by 4.0%\n the decrease over the 3 months came from infrastructure new work and private housing new work, which fell 9.3% and 5.2%, respectively; with the main positive contributions coming from non-housing repair and maintenance, and private housing repair and maintenance, which increased 3.2% and 3.3%, respectively\n monthly construction output is estimated to have increased 1.1% in volume terms in January 2024; this follows 3 consecutive monthly falls, with the monthly value in levels terms at £15,422 million in January 2024 [...] Key points:\n\n total construction output is projected to remain static in 2023, then increase by 0.3% in 2024 and 2.8% in 2025\n the housing sector is expected to decline by 13.4% in 2023, then increase by 1.7% in 2024 and 5.3% in 2025\n repair, maintenance and improvement (RM&I) is forecast to decline by 4.8% in 2023, then by 0.7% in 2024 and grow by 2.5% in 2025\n the new infrastructure sector is expected to grow by 5.9% in 2023, decrease by 0.2% 2024 and grow by 2.0% in 2025\n the private industrial sector is expected to grow by 0.3% in 2023, decline by 6.6% in 2024 and rise by 0.9% in 2025\n the public non-residential sector is forecast to grow by 6.6% in 2023, and decline by 0.1% in 2024 and 2025", "score": 0.4172008, "raw_content": null } ], "formatted": "Source: Construction statistics, Great Britain: 2024\nURL: https://www.ons.gov.uk/businessindustryandtrade/constructionindustry/articles/constructionstatistics/2024\nIn the 12 months to December 2024, there was growth in the all-Construction Output Price Index of 3.4%. At the lower level, repair and maintenance, and new work output prices increased across the 12 months to December 2024 by 2.7% and 3.7%, respectively. Methodology improvements were made to a range of deflators used in the national accounts in Blue Book 2025, including changes to the repair and maintenance deflator. More information can be found in our Deflator improvements to the UK National Accounts: Blue Book 2025 article. ## 6. Trends in the construction industry [...] ## 6. Trends in the construction industry In 2024, the construction industry increased focus on sustainability following regulatory changes introduced early in the year, including enhanced energy efficiency requirements for new buildings and overheating mitigation standards. The sector saw greater adoption of low carbon technologies and sustainable materials, prompting a need for specialised skills. Consequently, industry-wide efforts were made to address the skill gap in low carbon construction. These developments have influenced project planning, procurement and costs, reflecting a broader transition toward environmentally responsible building practices (UK GBC, 2025 Trends in Sustainable Solutions for the Built Environment 2024). [...] This is the latest release. Contact: Construction statistics team Release date: 19 February 2026 ## Table of contents Print this Article Download as PDF ## 1. Main points The value of construction new work in current prices in Great Britain during 2024 increased by 1.4% to £140,684 million; this increase was driven solely by a rise of 6.7% (£2,592 million) in public sector new work as the private sector fell by 0.7% (£688,000). Construction new orders grew by 5.6% i\n\n---\n\nSource: UK Steel Key Statistics Guide 2024 report\nURL: https://www.uksteel.org/steel-news-2024/key-stats-2024\n#### 31 May 2024 UK Steel’s annual Key Statistics publication takes stock of the state of the UK and global steel industry in numbers. The UK steel sector directly employs 33,700 people and a further 42,000 in the wider supply chain, paying wages on average 26% higher than the national median and 35% higher than the regional median in Wales, Yorkshire and Humberside, where the majority of steel jobs are located. In 2023, the UK steel industry directly contributed £1.8 billion to the UK economy and an added £2.4 billion through supply chains, as well as £3.4 billion to the UK’s balance of trade. However, last year was a challenging year for the sector. [...] In this challenging market environment, UK producers continued to face high costs, both energy and raw materials, and high market volatility. While input costs have normalised compared to 2021 and 2022, they remain well above pre-pandemic levels and indeed iron ore and coking coal prices trended upwards, particularly in the second half of 2023. UK producers also continue to experience higher electricity prices than their competitors in France and Germany. In a global steel market where government interventions abound, a level playing field remains at the crux of UK steel producers’ ability to compete, invest, decarbonise and innovate for a vibrant future. Contact details Chrysa Glystra, Trade & Economics Policy Manager, UK Steel 07771 388692 | cglystra@makeuk.org [...] 07771 388692 | cglystra@makeuk.org About UK Steel:UK Steel is the trade association for the UK steel industry. It represents all the country’s steelmakers and most downstream steel processors. The UK steel sector: For further information about the steel industry, please see the press pack, Why the UK Needs a Strong Steel Sector or the 2024 UK Steel Key\n\n---\n\nSource: The Current State of Steel Costs Per Tonne in the UK in 2024 | estiMedes\nURL: https://estimedes.co.uk/en/steel-cost-per-tonne-uk\n## Factors Influencing Steel Prices Several factors can affect the cost of steel in the UK. Global demand plays a significant role; as countries ramp up construction, the need for structural steel increases, pushing up prices. Additionally, the cost of raw materials and energy required to produce steel are also crucial. These costs are directly passed on to the consumer in the form of higher per tonne prices. Labour costs and energy prices are also significant factors. The steel industry is energy-intensive, and fluctuations in energy prices can greatly influence the final cost per ton. Similarly, changes in labour costs, whether due to economic conditions or regulatory changes, can affect overall steel frame building prices. ## Recent Trends in Steel Pricing [...] In summary, the steel industry in the UK is shaped by a range of dynamic factors, from global market trends to local supply chains. For those involved in construction and related industries, gaining a deep understanding of these factors, and regularly consulting with trusted experts, can make the difference in successfully navigating this complex market. Registered At: Hurlingham Studios, Ranelagh Gardens, London SW6 3PA, United Kingdom Office Address: 1-2 Grafton Court, Kettering Parkway, Kettering, Northampton NN15 6XR, United Kingdom Email: office@estimedes.co.uk Tel: +44 333 444 33 44 Registered in England and Wales No: 11682011 VAT Registration Number: 356 6686 51 ### Contact Form © 2023 CubeVis, All Rights Reserved [...] ## Recent Trends in Steel Pricing The latest trends indicate a rise in steel prices across the UK. Factors such as increased international demand and higher costs for energy and raw materials have contributed to this increase. Moreover, the industry has faced supply chain disruptions th\n\n---\n\nSource: [PDF] COSTING STEELWORK #24 - SteelConstruction.info\nURL: https://www.steelconstruction.info/images/a/a0/Costing_Steelwork-24.pdf\nMARKET AND COST MODELS UPDATE COSTING STEELWORK #24 COSTING STEELWORK Forecast Quarter 2019 2020 2021 2022 2023 2024 2025 1 117.9 120.4 120.0 131.2 145.3 152.6 157.9 2 118.3 121.0 122.6 134.5 147.3 154.0 159.2 3 119.3 119.1 125.3 138.1 149.1 155.5 160.5 4 119.8 119.1 127.5 142.3 150.9 156.7 161.8 S P O N S O R E D F E AT U R E onstruction sector sentiment saw a bounce going into the new year. The jump reflected the on-going good overall levels of workload across the industry and most areas of the country. The output trend, which the sentiment readings reflect, are supported by Office for National Statistics data that underscores the reasonable activity still in the industry. The sideways move in output volume over recent months does raise a question about underlying momentum and which [...] Aecom index for consumer prices. The on-going mix of issues and current workload momentum will ensure that tender price inflation continues steadily over the first half of 2023. Aecom’s baseline forecast for tender prices is broadly a 5% increase from Q2 2023 to Q2 2024, and a 3.5% increase from Q2 2024 to Q2 2025. The balance of risks to forecasts of price trends is balanced evenly now over the first 12-month period, because of rising concerns across the financial sector globally and associated risks for the UK economy. [...] High rates of general price inflation remain an enduring problem, and the prospects are that it persists at elevated levels over 2023. Specifically for our sector, construction input cost and price inflation trends are likely to follow a similar narrative as that Costing Steelwork is a series from Aecom, BCSA and Steel for Life that provides guidance on costing structural steelwork. This quarter provides a market update and revises the five cost models previous\n\n---\n\nSource: Construction building materials: commentary, March 2024\nURL: https://www.gov.uk/government/statistics/building-materials-and-components-statistics-march-2024/construction-building-materials-commentary-march-2024\nDownload table 1 data The material price index for ‘All work’: decreased by 1.9% in February 2024 compared to February 2023 decreased by 1.6% in January 2024 compared to January 2023 increased by 0.1% in February 2024 compared to January 2024 decreased by 0.2% in January 2024 compared to December 2023 #### Table 2: Construction materials experiencing the greatest price increases and decreases in the 12 months to February 2024, UK | Construction materials | (% change) | --- | | Pipes and fittings (flexible) | 20.3 | | Metal doors and windows | 17.0 | | Ready-mixed concrete | 11.1 | | Gravel, sand, clays and Kaolin - incl aggregate levy | -11.5 | | Fabricated structural steel | -15.8 | | Concrete reinforcing bars (steel) | -18.2 | Download table 2 data [...] construction output is estimated to have decreased 0.9% in the 3 months to January 2024; this came solely from a decrease in new work (4.5% fall), as repair and maintenance increased by 4.0% the decrease over the 3 months came from infrastructure new work and private housing new work, which fell 9.3% and 5.2%, respectively; with the main positive contributions coming from non-housing repair and maintenance, and private housing repair and maintenance, which increased 3.2% and 3.3%, respectively monthly construction output is estimated to have increased 1.1% in volume terms in January 2024; this follows 3 consecutive monthly falls, with the monthly value in levels terms at £15,422 million in January 2024 [...] Key points: total construction output is projected to remain static in 2023, then increase by 0.3% in 2024 and 2.8% in 2025 the housing sector is expected to decline by 13.4% in 2023, then increase by 1.7% in 2024 and 5.3% in 2025 repair, maintenance and improvement (RM&I) is forecast to decline by 4.8% in 2023, t" }