Panic-buying of steel ‘impacting prices’
Summary
Mace Consult says panic-buying ahead of changes to UK steel import rules has contributed to sharp rises in fabricated structural steel prices and wider construction material inflation. The report links this to supply disruption, higher energy costs and broader uncertainty, warning that lead times and procurement risk may worsen in the near term.
Why it matters
Higher steel and material costs can affect repair, refurbishment and new-build budgets, which in turn influences valuations, feasibility assessments and project viability for residential property work. Surveyors should be alert to increased price volatility and longer lead times when advising clients on contracts and cost assumptions.
Key points
- Fabricated structural steel prices have risen by more than 15% over six months.
- UK import rule changes have reduced tariff-free allowances and introduced a 50% levy above lower thresholds.
- ONS data shows construction material inflation rose from 3.2% in April to 5.4% in May.
- Mace Consult warns of greater price volatility, procurement risk and longer lead times.
- Broader uncertainty is also weighing on construction output and new project starts.
This is an RPSA summary of a publicly available article. The full content remains with the original publisher.
