Steel prices in the EU rise as costs increase

European prices for rolled steel continued to rise in December, driven by a sharp rise in the cost of raw materials. In addition, imports of steel products from third countries were restricted by trade protection measures for hot and cold rolled coils. Chinese deliveries have dropped especially.

The threat of an EU anti-dumping investigation into imports of galvanized steel from China has also significantly slowed down new orders from Chinese manufacturers. Therefore, the number of orders from European factories has increased significantly and delivery times are being extended.

Metallurgists in Europe are striving to stay ahead of developments in the growth of raw materials prices, announcing further price increases in late November. Buyers expect new targets for price increases for steel products of the plants, which will be achieved in the near future, not excluding further initiatives to increase them in the first quarter of 2017.