UK steel suppliers have seen substantial increases in output over the past year, with domestic steel production up by almost a quarter.
According to the latest monthly update from the International Steel Statistics Bureau, the UK’s year-to-date steel output in November 2013 was up by a massive 23% at 10.8 million tonnes.
This was helped in no small part by a 20.4% increase in monthly production for the month of November itself.
In contrast, the November monthly figure for the EU27 area of Europe was up by just 5.3%, with the year-to-date total actually declining by 2.8%.
UK steel suppliers may also have benefited from an increase in new car registrations in the country, with a 7% increase in November alone, and a 9.9% rise in registrations for the year to date.
Again, this contrasts with a less positive picture elsewhere in Europe, with car manufacturers’ association ACEA reporting 0.9% growth in November and a 2.8% decline for the first 11 months of 2013 in total.
The figures make promising reading for UK steel suppliers and customers alike, as they are an indication that both supply and demand are on the increase moving into 2014.