Steel Price Outlook provides 5-year global forecast

The publication of MEPS International’s annual Steel Price Outlook report is providing business-critical forecasts for 2024 and beyond.

Flat and long steel product prices, raw material costs and supply and the steel sector's key trends and influences are mapped out in the comprehensive publication which reached customers, which had placed pre-orders, on December 12.

Copies of the Steel Price Outlook 2023 report can now be purchased via the MEPS website.

“A decline in economic activity has exerted downward pressure on steel prices across the globe since mid-2022,” the introduction to the MEPS Steel Price Outlook report states.

“The limited demand experienced by steelmakers followed the uncertainty and price volatility triggered firstly by the Covid pandemic, and then Russia’s invasion of Ukraine.

“MEPS International’s market research also provides insight into a steel market increasingly exposed to a range of complex factors, including fluctuating raw material costs, new international trade defence measures and emissions-related tariffs.”

The major steel-producing regions of Europe, North America and Asia are covered by the report which covers the period from 2024 to 2028. Influences from outside these regions are also taken into account by the MEPS forecasting methodology.

In an uncertain steel purchasing environment, the Steel Price Outlook’s long-term view of the market can be used, by businesses, alongside MEPS’s range of monthly Steel Market Reviews to negotiate a competitive advantage.

Visit the ‘Five Year Outlook’ section of the MEPS website to secure your copy of the Steel Price Outlook 2023 report.