EU Steel Prices to Reach Seven-Year High in Spring 2018

European flat and long product steel selling figures increased, in January. Local mills raised their offer prices in an attempt to recoup recent rises in raw material costs. Further escalation in steel prices is anticipated, in the short term. Consequently, the MEPS EU average all products composite selling figure is expected to rise to its highest level since April 2011.

Domestic flat product steelmakers should be able to secure, at least, a proportion of their proposed price rises, as delivery lead times extend. Import tonnage is expected to remain low, as a result of trade defence measures and uncompetitive quotations from third country suppliers.

Source: MEPS – European Steel Review – January 2018 Issue