Podcast: Central European investment unlikely to boost steel prices 

Investment in Central Europe’s defence, energy and automotive sectors is unlikely to significantly increase prices in steel’s spot market, MEPS’s latest Market in Minutes podcast reveals.

MEPS’s International Steel Review reported that recent GDP forecasts had positioned Poland as the EU’s fastest growing economy. Economists’ forecasts, compiled by Bloomberg, projected that its USD915 billion in gross domestic product will expand by 3.3% in 2026 and 3.2% in 2027, backed by a surge in defence spending. 

The positive growth outlook emerged as the automotive sector in neighbouring Czechia provided stable demand for the regions’ steelmakers. In September, Toyota announced plans to invest EUR680 million to build a new electric vehicle production line in that country. 

However, MEPS research lead Chris Jackson says that any recovery in steel prices is likely to be modest and incremental amid continued low spot market demand. Jackson, who shares the findings of MEPS research with managing editor Tom Sharpe in the new episode of the Market in Minutes podcast, said: “Some economic indicators are giving the impression that there are better times ahead. The GDP projections for 2026 and 2027 are over 3%, which is very encouraging. 

“However, that growth is focused on a couple of sectors. 

“Naturally there is a keen focus on defence and we’re seeing developments in Poland’s the energy sector, where two nuclear reactors have been given the go ahead, alongside a growing investment in offshore wind. 

“Military and energy aside, however, companies engaged in commercial sales, and day-to-day-spot business may not be reaping the rewards that are projected for those industries.” 

Featured among the topics covered in this Central Europe-themed episode of the Market in Minutes podcast series are: 

• Encouraging economic indicators: defence, energy and automotive show signs of promise. 
• Subdued spot market demand continues to stall any steel price recovery
• Rising production: growing capacity utilisation at Huta Czestochowa
• Ukraine’s steel exports and the uncertainty created by the EU CBAM 

MEPS’s Speaking in Steel podcast series can be accessed via all major platforms. Click on one of the links below to access the latest, Central Europe-themed Market in Minutes episode. 

YouTube 

Spotify 

Apple Podcasts

Regular research from the Polish and Czech steel markets is featured in MEPS’s International Steel Review. The monthly report provides subscribers with steel prices, indices, market commentary and forecasts from key global steel markets in North America, Europe and Asia. Contact MEPS for details of how to subscribe.