Steel Director’s Briefing – July 2024
8th July 2024
Now that we have clarity on the next UK government, with Labour securing a significant majority, the steel industry is…
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.