Steel prices return to near "normal"

The global steel market appears to be returning to normal price levels. 2018 has been a turbulent year for steel sales in all parts of the world, but prices in 2019 are expected to remain below their peaks recorded last year.

Steel prices rose rapidly in North America in the first half of 2018. This was followed by a significant decline in prices in the second half of the year. A similar but less dramatic decline in sales prices for steel occurred in the European Union between July and December.

In mid-2018, MEPS forecasted a decline in flat steel prices in the EU and North American markets. They were found to be substantially correct for the reference hot rolled coil shape.

Charts showing MEPS forecasts made in June 2018, along with actual published data for the next six months, are shown below. It is clear that the MEPS forecasts for future prices were broadly in line with the actual values ​​in both regions studied. The data was contained in the company's regular monthly reports - International Steel Review and European Steel Review.