Metals sector optimistic says new report

Rising energy prices, the impact of life after the EU and labour shortages continue to be the main challenges facing the UK metals sector according to a new report.Nearly a quarter of firms in the UK Metals Council’s ‘State of the Metals Industry in the UK 2023/24’ survey admitted to adjusting supply chain strategies or sourcing alternatives, while just under a third want enhanced Government support to navigate trade barriers and custom procedures in the wake of Brexit.

Some 22% of manufacturers are also looking for improved energy supply contracts to bring prices down to more affordable levels, with just 31% of businesses saying that they have an effective recruitment strategy in place for filling the well-documented labour gaps.However, there were many positive sentiments in the report. For instance, despite the widespread challenges, 70% of respondents are optimistic or very optimistic about future business prospects, underlining the resilience of the sector and its ability to innovate.
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