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.

  • US steel businesses struggle as Covid-19 cases rise

    Many US steel businesses are struggling to survive in the current climate. Weak demand and low prices are damaging resale margins and the financial health of the steel market. A number of companies will, inevitably, close permanently, as a result of the f
  • Turning point reached in Germany as mills attempt to raise prices

    Strip mill product prices appear to have reached their low point, in Germany. Steel producers carried out large capacity cuts in recent months, due to the Covid-19 crisis, and distributors’ sales are increasing, albeit slowly.
  • Southern European mills target price increases buoyed by unattractive import offers

    Modest coil price increases were recorded in southern Europe, this month, due to a lack of attractive import quotations and the impact of the revised EC safeguard quotas. Steel market participants are hopeful that the €750 billion Covid-19 recovery packag
  • 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.