Latest Steel Industry News
Below you will find MEPS Steel Industry 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.
- Global stainless steel production set for 4-year low
Global stainless steel production set for 4-year low
30.07.2020Global crude stainless steel production is predicted to reach an annual total of 47.2 million tonnes, in 2020. Following four consecutive years of growth, this would represent a decrease of almost 10 percent, compared with the year earlier figure. - Coil prices bottom out in Central Europe amid second wave fears
Coil prices bottom out in Central Europe amid second wave fears
29.07.2020Prices for steel coil appear to have reached the bottom of the current cycle, in Poland and the Czech Republic, following the substantial downturn witnessed in the second quarter. Steel mills are proposing hikes, but many buyers are sceptical about the pr - US steel businesses struggle as Covid-19 cases rise
US steel businesses struggle as Covid-19 cases rise
27.07.2020Many 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
Turning point reached in Germany as mills attempt to raise prices
24.07.2020Strip 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
Southern European mills target price increases buoyed by unattractive import offers
23.07.2020Modest 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
Nordic steel prices reach the bottom of the current cycle
22.07.2020Northern 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
UK structural steel demand depressed as rising costs squeeze margins
21.07.2020The 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
EU steel prices expected to rise after Q2 downturn
20.07.2020Flat 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
Stainless steel quota uptake remains high in July
13.07.2020Imports 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
EU stainless steel mills fail to pass on raw material cost increases
02.07.2020European 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
European stainless steel sector faces reality of a slow recovery
01.07.2020Hopes 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.
