Latest News

Below you will find MEPS Steel News – the latest news from the global steel sector written by our steel market experts. You can sign up here, to receive the latest articles as soon as they are published.

  • Nordic steel prices reach the bottom of the current cycle

    Northern European mills’ selling values for strip mill products reached a low point, in late June. Regional producers proposed price increases of €20/30 per tonne, or equivalent, for new business.
  • UK structural steel demand depressed as rising costs squeeze margins

    The UK beam market remains depressed, and supply is outweighing demand. Low-priced offers from UK and Spanish-based producers are exerting negative pressure across Western Europe. Buyers, observing the downward trend, are reluctant to purchase material.
  • EU steel prices expected to rise after Q2 downturn

    Flat products basis values continued to edge downwards across Europe in late June. Nevertheless, EU mills are keen to implement price rises, citing growing raw material costs and low profit margins.
  • Stainless steel quota uptake remains high in July

    Imports of steel products have been subject to European Commission safeguard measures, since their introduction in 2018. During the July 1, 2019 to June 30, 2020 period, stainless hot rolled flat products, largely, had unused volumes available.
  • EU stainless steel mills fail to pass on raw material cost increases

    European stainless steel prices continued to fall, despite rises in regional mills’ published alloy surcharges, in June. The majority of distributors and stockists now negotiate deals with the stainless steel producers using an ‘effective price’, rather
  • European stainless steel sector faces reality of a slow recovery

    Hopes of a quick recovery, in the European stainless steel market, have faded. Demand remains a concern, even in those countries where successful efforts have been made to control the virus.
  • US steel price recovery comes to a halt

    The recovery in US steel prices, that commenced in early May, came to a halt in recent weeks. Coil basis values struggled to reach the levels desired by the mills, as buyers remained cautious in their purchasing activity.
  • Global steel output declines by 8.7% in May

    Global crude steel output is estimated at 148.8 million tonnes in May. This represents a decrease of 8.7 percent, year-on-year. The reduction was not as dramatic as the 13.4 percent recorded in April, at the peak of the Covid-19 lockdown measures.
  • Russian long steel prices rise, flats fall

    Russian domestic long product prices increased, this month. In contrast, local mills conceded discounts for flat products.Demand from the construction industry is recovering, albeit at a slow pace, as coronavirus-related restrictions are lifted.
  • Polish and Czech steel prices continue to decline in June

    MEPS recorded reductions in the price of steel products in Poland and the Czech Republic, in June.
  • Lack of new construction projects tempers optimism in northern Europe

    Concern about the lack of new projects is widespread in northern Europe. Most long product distributors reported an improvement in sales activity in June, relative to May, which in turn was better than April. Nonetheless, volumes remain below pre-lockdown