{
  "query": "UK steel industry construction cost trends 2026 forecast",
  "claims": [
    {
      "claim": "Steel material costs are projected to continue rising through 2030, impacting project budgets and procurement strategies.",
      "verbatim_quote": "Material costs, particularly for insulation, timber, and steel, are projected to rise further through to 2030, prompting firms to rethink procurement strategies and build greater resilience into project budgets.",
      "source_url": "https://asd.ltd/construction-trends-2026/",
      "relevance": "high"
    },
    {
      "claim": "The BCIS All-in Tender Price Index, measuring contractor pricing levels, showed an annual growth of 2.8% in the first quarter of 2026.",
      "verbatim_quote": "The BCIS All-in Tender Price Index (TPI), which measures the trend of contractors’ pricing levels in accepted tenders, i.e. the cost to client at commit to build, saw annual growth of 2.8% in 1Q2026.",
      "source_url": "https://www.bcis.co.uk/news/bcis-construction-industry-forecast/",
      "relevance": "high"
    },
    {
      "claim": "Building costs are forecast to increase by 14% over a five-year period starting in 2026.",
      "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",
      "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": "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 UK steel market is expected to grow at a compound annual growth rate (CAGR) of 4.01% starting in 2026, driven by infrastructure and construction demand.",
      "verbatim_quote": "The market is expected to grow at a CAGR of 4.01% from 2026-2034, due to ongoing infrastructural modernization, electric vehicle production growth, and the increasing application of high strength and sustainable steel grades",
      "source_url": "https://finance.yahoo.com/sectors/energy/articles/united-kingdom-steel-industry-report-090900606.html",
      "relevance": "medium"
    }
  ],
  "market_context": "- [HIGH] Steel material costs are projected to continue rising through 2030, impacting project budgets and procurement strategies. (source: https://asd.ltd/construction-trends-2026/)\n- [HIGH] The BCIS All-in Tender Price Index, measuring contractor pricing levels, showed an annual growth of 2.8% in the first quarter of 2026. (source: https://www.bcis.co.uk/news/bcis-construction-industry-forecast/)\n- [HIGH] Building costs are forecast to increase by 14% over a five-year period starting in 2026. (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 UK steel market is expected to grow at a compound annual growth rate (CAGR) of 4.01% starting in 2026, driven by infrastructure and construction demand. (source: https://finance.yahoo.com/sectors/energy/articles/united-kingdom-steel-industry-report-090900606.html)"
}