Eurozone crisis leaves UK steel output at standstill

Eurozone crisis leaves UK Steel output at standstill
UK steel output in 2012 remained at a virtual standstill compared to 2011, according to annual data published by UK Steel.

According to the data, output in 2012 was just 1% higher in 2012 than 2011. This equated to average production of 184,264 tonnes a week in 2012 compared to 182, 269 tonnes a week in 2011.

UK Steel director Ian Rodgers said: "This virtual standstill position is despite the export-oriented plant in Teesside re-starting last spring under new ownership and leaves UK steel output still around 30% below 2008/9 levels."

He added: "Two key factors are the continuing low level of UK construction output, and more recently the slowdown in European automotive production. Government needs to act more urgently in stimulating shovel ready investment in the UK's infrastructure and other construction activities."

Author
Laura Hopperton

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