Q3 2021 Steel Report Overview

US & EU Steel Prices touched new all-time highs in Q2 2021, rising 24% and 30% Q-o-Q, respectively. Relative to other global commodities, the US & EU HRC spot markets are outliers in their meteoric rise over the last 12 months. 

Meanwhile in China, prices cooled by 2% Q-o-Q as record-breaking production levels continue to be the norm and strategic actions taken by the Chinese Government were effective in curbing exports. 

As a result of these trends, the regional price gaps in HRC have reached staggering levels, inviting increased import activity from US & EU buyers. Between February and April 2021, US steel imports were up 21% relative to the same period last year. In the EU, steel imports were up 42% over the same period. 

With all regions now kicking into higher gears of production, Raw Materials have continued to trend upward. US & EU scrap prices were up 11% and 20% Q-o-Q, respectively. Global Iron Ore rose another 18% over the same period. Despite the rise of input costs, Mill profitability has turned skyward as the market price vastly outpaces the price of inputs.

    Name - Surname*

    Business Email*

    Deliver greater savings and business value throughsteel sourcing optimization and expertise.