The first quarter of 2025, while up compared to a very poor Q1 2024, is flat – or steady – compared to the final months of 2024. That’s the positive news. On the flip side consumer confidence is extremely low based on concerns about the war in Ukraine, Trump’s Tariffs, domestic cost increases, and higher government taxes – a busy first 100 days of 2025.

New house building which rebounded from the Liz Truss era is still reporting around 0.6+ houses per site per week, and the sunshine in March & April has attracted more potential buyers, so maybe not all is as gloomy as the economists would suggest. But housebuilding is still a long way off the government targets, and the planning system remains the biggest blockage. Even if new sites got planning permissions they would not be up and running until 2026. A flat year then.

An interesting column in The Times, recently, compared Covid-19 to Donald-25. “The equivalent uncertainty in 2025 is that no one knows where US tariffs will be tomorrow, much less in three months’ time.” The report continued “the volume of goods coming into Los Angeles is down steeply. Daily container bookings in the US-China trade route have tumbled by a quarter since the end of March relative to this time last year.”

Both European and the UK have anti-dumping levies in place as trade defence measures against steel dumping and have recently agreed to extend them for another five years with levies between 18% and 28%, depending on the grade of steel. In addition, Europe and the UK are also applying carbon taxes on steel through a CBAM (Carbon Border Adjustment Mechanism). This aims to ensure a price is placed on the carbon emissions associated with steel production, whether domestically or internationally.

Despite the recent uncertainties, we’re committed to adapting and excelling in this evolving landscape. Our proactive approach ensures that we’re well-prepared to navigate the challenges and capitalise on the opportunities that lie ahead in 2025.