{
  "query": "UK construction cost trends steel industry 2026 forecast NEC contracts",
  "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% over the five-year period starting in 1Q2026.",
      "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": "Total new construction work output 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"
    },
    {
      "claim": "The UK steel market size is projected to reach USD 43,625.70 million by 2034.",
      "verbatim_quote": "The UK steel market size was valued at USD 33,170.20 Million in 2025 and is projected to reach USD 43,625.70 Million by 2034",
      "source_url": "https://www.imarcgroup.com/uk-steel-market",
      "relevance": "medium"
    },
    {
      "claim": "Rising employment costs from the Autumn Budget, including higher minimum wage and National Insurance, are expected to pressure construction margins in 2026.",
      "verbatim_quote": "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 specification of lower upfront embodied carbon Electric Arc Furnace (EAF) steel is a continuing strategy for commercial schemes in 2026.",
      "verbatim_quote": "The specification of lower upfront embodied carbon EAF steel continues to be a strategy on commercial schemes.",
      "source_url": "https://asd.ltd/construction-trends-2026/",
      "relevance": "high"
    }
  ],
  "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% over the five-year period starting in 1Q2026. (source: https://www.bcis.co.uk/news/bcis-construction-industry-forecast/)\n- [MEDIUM] Total new construction work output is forecast to grow by 12% between 2026 and 2031. (source: https://www.bcis.co.uk/news/bcis-construction-industry-forecast/)\n- [MEDIUM] The UK steel market size is projected to reach USD 43,625.70 million by 2034. (source: https://www.imarcgroup.com/uk-steel-market)\n- [MEDIUM] Rising employment costs from the Autumn Budget, including higher minimum wage and National Insurance, are expected to pressure construction margins in 2026. (source: https://asd.ltd/construction-trends-2026/)\n- [HIGH] The specification of lower upfront embodied carbon Electric Arc Furnace (EAF) steel is a continuing strategy for commercial schemes in 2026. (source: https://asd.ltd/construction-trends-2026/)"
}