{
  "query": "UK steel industry construction cost trends 2026 forecast and NEC4 contract performance benchmarks 2026",
  "claims": [
    {
      "claim": "The UK steel market is projected to grow at a compound annual growth rate (CAGR) of 3.09% from 2026 to 2034.",
      "verbatim_quote": "The UK steel market is expected to grow at a compound annual growth rate of 3.09% from 2026-2034 to reach USD 43,625.70 Million by 2034.",
      "source_url": "https://www.imarcgroup.com/uk-steel-market",
      "relevance": "high"
    },
    {
      "claim": "Building costs in the UK are forecast to increase by 14% between 2026 and 2031.",
      "verbatim_quote": "Building costs are forecast to increase by 14% over the next five years, while tender prices are expected to rise by 15% over the same period, according to BCIS’s latest construction forecast data.",
      "source_url": "https://www.bcis.co.uk/news/bcis-construction-industry-forecast/",
      "relevance": "high"
    },
    {
      "claim": "UK construction tender prices are expected to rise by 15% between 2026 and 2031.",
      "verbatim_quote": "tender prices are expected to rise by 15% over the same period, according to BCIS’s latest construction forecast data.",
      "source_url": "https://www.bcis.co.uk/news/bcis-construction-industry-forecast/",
      "relevance": "high"
    },
    {
      "claim": "Rising employment costs, including higher minimum wage and National Insurance contributions, are expected to pressure construction margins in 2026.",
      "verbatim_quote": "That said, rising employment costs from the Autumn Budget – higher minimum wage and National Insurance contributions, will undoubtedly add pressure to already tight margins.",
      "source_url": "https://asd.ltd/construction-trends-2026/",
      "relevance": "medium"
    },
    {
      "claim": "The NEC4 contract suite is being utilized for complex urban infrastructure upgrades, specifically using Option C (Target Cost) models.",
      "verbatim_quote": "Consider overseeing a complex upgrade to a city's underground utilities network, a project often commissioned by a public body using an NEC4 Engineering and Construction Contract Option C (Target Cost).",
      "source_url": "https://archdesk.com/blog/jct-nec-contracts-uk-guide-2026",
      "relevance": "medium"
    },
    {
      "claim": "Total new work output in the UK construction sector is forecast to grow by 12% between 2026 and 2031.",
      "verbatim_quote": "Total new work output is forecast to grow by 12% between 2026 and 2031.",
      "source_url": "https://www.bcis.co.uk/news/bcis-construction-industry-forecast/",
      "relevance": "medium"
    }
  ],
  "market_context": "- [HIGH] The UK steel market is projected to grow at a compound annual growth rate (CAGR) of 3.09% from 2026 to 2034. (source: https://www.imarcgroup.com/uk-steel-market)\n- [HIGH] Building costs in the UK are forecast to increase by 14% between 2026 and 2031. (source: https://www.bcis.co.uk/news/bcis-construction-industry-forecast/)\n- [HIGH] UK construction tender prices are expected to rise by 15% between 2026 and 2031. (source: https://www.bcis.co.uk/news/bcis-construction-industry-forecast/)\n- [MEDIUM] Rising employment costs, including higher minimum wage and National Insurance contributions, are expected to pressure construction margins in 2026. (source: https://asd.ltd/construction-trends-2026/)\n- [MEDIUM] The NEC4 contract suite is being utilized for complex urban infrastructure upgrades, specifically using Option C (Target Cost) models. (source: https://archdesk.com/blog/jct-nec-contracts-uk-guide-2026)\n- [MEDIUM] Total new work output in the UK construction sector is forecast to grow by 12% between 2026 and 2031. (source: https://www.bcis.co.uk/news/bcis-construction-industry-forecast/)"
}