The trends of late 2023 have continued into 2024, with subdued demand in both construction and the repair, maintenance, and improvement (RMI) sectors leading to lower volumes in the fastener and fixings sector.  With the vast majority of fixings and fasteners being imported from the Far East, the effective closure of the Suez Canal has increased shipping costs. In spite of this, pricing has remained stable, with increased costs being absorbed by importers and distributors.

The need for shipping to use the longer Cape of Good Hope route has had some impact on product availability. Initial supply chain disruption was largely absorbed by the stocks held in the UK, but while shipping schedules have stabilised, there have been delays which have led to a degree of stock depletion, which is starting to have some impact on product availability. It is expected that availability will improve as we move through quarter two and normal stock levels in the supply chain are rebuilt.

The full implementation of UKCA (UK Conformity Assessed, the successor to the CE mark) for construction products will be with us in July 2025. Although this may seem some way off and not a current issue, it very much is. With the long lead times for products sourced from the Far East and the stocks held in the UK supply chain, from supplier to shelf, the need for the product on the shelf to be UKCA compliant on 1^st July 2025 means that there is a need for UKCA compliant product to be entering the supply chain in the not too distant future. The requirement from the government for construction products to be re-tested has been onerous with limited test facilities available and, although testing has been underway for some time, in many cases, it may be some months before UKCA tested product starts making its way onto shelves.