EU steel prices rose in March according to MEPS research data.

The rise in steel prices in Europe comes ahead of US plans to impose a 25% import tariff which could come into effect as early as Friday this week (March 23). Some countries are still trying to get exemptions from the proposed tariffs amid some confusion over the criteria for exemptions.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The MEPS said the US tariff plans dominated discussions during MEPS research in March. However, purchasing and prices were not directly affected by the news.

European strip mill product basis values continue to move up and the MEPS said producers appear confident that these will be reached, supported by good order books, extending delivery lead times and the low availability of imports.

Despite easing in February, manufacturing output growth remains high in Germany, the MEPS noted, and this is reflected in strong steel demand. Recent strip mill product business was negotiated at figures above those reported, last month, but not yet at the minimum target levels proposed by the domestic steelmakers. Order intake at the domestic mills is 'positive and delivery lead times continue to lengthen'.

See Also:

In other parts of Europe the MEPS offered the following market summaries:

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
  • In France, activity, in the main steel consuming sectors of automotive and construction, is described as good. This, together with a lack of imports, helped, once again, to push up strip mill product basis values, in March, the MEPS said.
  • The Italian steel market is 'quiet, at present, with substantial speculation surrounding the political situation'.
  • UK demand 'remains subdued'. However, a 'number of distributors reported a slight improvement in activity over recent weeks with inventories reducing'.
  • In Belgium, basis values continue to escalate and 'further rises are anticipated'.
  • The Spanish steel sector is 'performing well, with good demand'. Distributors of strip mill products are busy, the MEPS says.