The global steel market appears to be returning to near normal levels of pricing. 2018 was a turbulent year for steel selling figures in all parts of the world but prices, in 2019, are expected to remain below the peak values recorded last year.
Rapid steel price rises took place in North America during the first half of 2018. These were followed by substantial price reductions in the second half of the year. Similar, but less dramatic decreases in steel selling values took place in the European Union during the July/December period.
In mid-year 2018, MEPS predicted prices reductions for flat products in both the EU and North American markets. These proved to be substantially correct for the benchmark hot rolled coil product form.
Charts showing MEPS’ forecasts prepared in June 2018, together with actual published data, over the following six-month period, are set out below. The MEPS predictions for future prices were broadly in line with actual values in both regions researched. The data was contained in the company’s regular monthly reports –International Steel Review and European Steel Review.
For long term steel price predictions, MEPS publishes regional steel price forecasts.
Source: World Steel News