Latest Steel 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.
- Stainless steel producers cut output amid weak demand29.11.2022The global stainless steel sector is currently characterised by deteriorating market sentiment, elevated distributor inventory levels, and inflationary pressures reducing the spending power of consumers.
- Weak Asian demand to limit global steel price recovery24.11.2022A recovery in global steel prices is likely to be undermined by the ongoing weakness in demand, in China and the wider Asian region.
- European hot rolled coil prices maintain downward trend23.11.2022Western European hot rolled coil prices continued to decline, during the past four weeks. Further reductions are expected in late November and early December.
- Energy costs no longer a factor in price negotiations22.11.2022Elevated energy costs, a consequence of Russia’s invasion of Ukraine, provided the catalyst for rising European steel prices earlier this year.
- Stainless resale values struggle to surpass mill prices31.10.2022Stainless steel buying activity, in Europe, was weaker than anticipated, in October. Many market participants reported a slight improvement, month-on-month.
- Chinese steelmakers arrest slide in global steel output28.10.2022The latest figures from Worldsteel show that the drop in global crude steel output seen throughout 2022 reversed in September. Steelmakers produced a total of 151.7 million tonnes, during that month – an increase of 3.7% compared with the previous Septemb
- Prices under negative pressure despite mill list hikes25.10.2022October was expected to be a crucial month in determining the short-term direction of global steel prices. In Europe and North America, the mills’ efforts to reverse the negative trend are being strongly opposed by buyers.
- Mill capacity cuts fail to deliver price aspirations19.10.2022In early September, European steelmakers were promoting significant price increases, to protect margins against soaring energy costs. This effort was supported by blast furnace shutdowns and other capacity cuts.
- Asian stainless prices rise on supply concerns30.09.2022Global stainless steel demand remained weak throughout the summer period. However, market sentiment in Asia has become more optimistic following the return to work after the Mid-Autumn Festival holidays, earlier this month.