PRESS RELEASE BY MBD...

UK STRUCTURAL STEEL MARKET RESEARCH REPORT

RELEASED: JANUARY 2008

After researching the UK Structural Steel market development and taking into account various other factors the following conclusions can be drawn from MBD's report:

MARKET REVIEW 2003-2007:

The UK market for structural steel in volume terms is estimated to have increased by 2% to a peak of 1 592 000 tonnes in 2007. This represents overall growth of 21% compared with 2003. Prior to this, in the four years to 2006, demand for structural steel increased in each year with the exception of a 9% decline in 2005. Furthermore growth rates oscillated between 2% and 23% over the five year period. Continued volume growth is believed to reflect increased activity in the construction industry.

MBD believe, the UK market for structural steel recorded growth of 2% in 2007 taking the value of the market to a peak of £5291 million. This is equivalent to an increase of 31% compared with 2003. Annual growth rates peaked at 19% in 2004. The growth in the value of the market can be partially attributed to the increase in price of steel over the past two decades.

MARKET FORECAST 2008-2012:

Demand for UK structural steel, in volume terms is anticipated to demonstrate year-on-year growth throughout the five year forecast period, culminating in an overall increase of 10% to 1 785 000 tonnes in the latter year. Furthermore growth rates are projected to oscillated between 1% and 3%. MBD expect demand to be stronger towards the end of the forecast period partly reflecting increased construction activity related to the 2012 Olympics.

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