The past year or so has been a tumultuous period for the global construction industry, with contractors and suppliers grappling with a conveyor belt of new and emerging challenges. One of the most pressing and difficult to navigate issues is material shortages, particularly the ongoing steel crisis.

A global supply shortage has driven up the cost of steel and led to considerable delays, making it extremely difficult for contractors to cost projects, lengthening lead times on those schemes that are already on site and causing developers to place new projects on ice.

Trouble in the international steel market is no new problem, with the most recent rearing its head in early 2020. Availability of the product deteriorated further in recent months, with British Steel temporarily closing its order book for structural steel due to high demand. Orders have now resumed but the closure indicates the severity of the situation.

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