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Steel construction output on the rise

Steel construction output in the UK last year rose by over 7 per cent fuelled by increasing demand in the residential, hospital and education sectors.
In all 1.35 million tonnes of steel was used on building projects with other key rises taking place in the multi-storey residential sector - which boasted a 5 per cent increase to 44 per cent.

New president of the British Constructional Steelwork Association Donal McCormack said that steel has 95 per cent market share in the single-storey sector.

And Mr McCormack, who is also managing director of Northern Ireland firm Terence McCormack, said that the hike in steel prices - caused by massive demand from China - had calmed down.

He added: 'I am pleased to be able to report that we are now in an environment where prices are expected to be more stable.'

Following last week's news that London will host the 2012 Olympic Games, steelwork firms are expecting to cash in on the massive £3 billion construction programme now being drawn up.

Mr McCormack said 12 per cent of the building costs will be steel - around 250,000 tonnes - and forecasters are predicting the Games will provide an annual 5 per cent boost to the industry between 2006 and 2010.

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