As of 2023, the UK’s production in the manufacture of basic iron and steel was valued at approximately 10.80 billion pounds sterling. Forecasts indicate a steady increase from 2024 to 2028, with values reaching 11.17 billion pounds. This represents a consistent year-on-year growth, averaging approximately 0.54% annually over this five-year period.
Future trends to watch include:
- The impact of global steel demand and pricing on UK production.
- Technological advancements in production efficiency and sustainability.
- Government policies related to trade, tariffs, and environmental regulations.
- Potential shifts in domestic construction and manufacturing activities.
