Speaking of Steel

MEPS’s new Speaking of Steel podcast debates whether demand from the United States construction sector will support surging long product prices during 2026. Sarah Martin, associate director of forecasting at Dodge Construction Network, joins MEPS US steel market analysts Laura Hodges and Gary Sanders for the debate. The podcast episode, hosted by MEPS managing editor Tom Sharpe, can be accessed via YouTube, Spotify or Apple Podcasts. Listen now to benefit from: A US construction sector outlook, delivered by Sarah Martin, associate director of forecasting at Dodge Construction Network Analysis of areas of strength and weakness in the US construction sector, and the outlook for steel demand Discussion around the effect of US Section 232 tariffs on the supply of rebar and beams to the construction sector, and the upward pressure applied to prices Consideration of the possible effects of the Middle East conflict on inflation and interest rates 

Insight shared in MEPS’s new Market in Minutes podcast reveals that the UK steel market is at a crossroads, with tightening supply and rising prices expected in the months ahead. Research conducted for MEPS’s European Steel Review found that anticipation of amendments to the United Kingdom’s steel import quotas and tariffs had prompted a significant rise in coil values during March. A new quota for Turkish-origin metallic coated sheet was subsequently implemented on April 1, with widespread quota cuts and a doubling of above-quota tariffs expected from July 1. In the latest episode of Market in Minutes, which can be accessed via YouTube, Spotify or Apple Podcasts, MEPS head of research Stuart Gray joins managing editor Tom Sharpe to provide an update on trends in the UK steel market. “The UK steel market is at crossroads right now,” Gray observed. “There is so much happening, so many influences on the prices researched and assessed by MEPS. It really is a very opportune time to deliver a market update.” Among the themes discussed in the new Market in Minutes podcast, entitled “UK steel market at a crossroads”, are: UK steel buyers’ anxiety over the effect of tightening import quotas on supply How domestic steel production remains well below the country’s installed capacity Improved UK manufacturing PMIs not reflected in demand from steel distributors Growing concerns about the energy crisis triggered by the Middle East conflict MEPS’s steel price outlook and the growing risks it must incorporate Market in Minutes shares monthly insight into a specific steel market researched by MEPS’s research team. It forms part of the Speaking of Steel podcast series, which shares discussion among researchers and external guests on the factors influencing global steel prices. Regular insight from the UK steel market is published in MEPS’s European Steel Review. The monthly publication features steel prices, price indices, market commentaries and six-month price forecasts for the UK, as well as Belgium, France, Germany, Italy and Spain. Contact MEPS to enquire for details about how to subscribe.

The US Supreme Court's move to quash the Trump administration’s “reciprocal” import tariffs left the 50% Section 232 tariffs on steel intact, but its effects could be far-reaching, a new MEPS podcast concludes. Steel market analyst Laura Hodges and Jon Carruthers-Green join MEPS’s managing editor Tom Sharpe to discuss the future of US tariffs in the latest 30-minute episode of the Speaking of Steel podcast.  Watch or listen to the latest episode of the Speaking of Steel podcast via YouTube or Spotify to hear the tariff-themed discussion on: The alternative trade measures that could replace the United States' IEEPA-based tariffs. How many previously agreed US trade deals are now “null and void”. Section 232 tariffs’ inflationary effect on US steel prices and the positive outcome for domestic steelmakers. The gap between US steel prices, and those in Europe and Asia, which is capping the scope for further increases.

A “disconnect” between Central Europe’s buoyant GDP growth forecasts and the reality of economic activity means that the region’s steel demand remains modest, MEPS’s latest Market in Minutes podcast reveals.Although the OECD forecasts that Poland will top the EU’s 2026 GDP growth ranking with an uptick of 3.4%, with Czechia’s 2% forecast also well above the eurozone average, there is little optimism among steel market participants. “The consensus is that there's actually a slight disconnect in terms of the headline economic news that's relayed and what they are actually seeing in their day-to-day activities,” MEPS steel market analyst Chris Jackson concluded in the latest Market in Minutes episode. However, Jackson told MEPS managing editor Tom Sharpe that a reduced supply of many products is driving prices higher. Energy price volatility resulting from the Middle East conflict may further accelerate steelmakers’ efforts to realise elevated selling prices in the days and weeks to come, he says. Watch this month’s episode to learn more about developments in the Central European steel market, including: CBAM’s influence on import volumes and the resulting upwards pressure on pricesA cold rolled coil price increase as an EU antidumping investigation tightens supplyA sharp increase in plate prices as rerollers’ cost pressures growHow domestic steel mills’ mixed productivity creates uncertaintyThe infrastructure projects providing modest expectations of increased demand

Southern Europe’s hot rolled coil values have risen by around EUR100 per tonne in seven months as buyers’ shifting supply options set a new price trend, MEPS’s latest Market in Minutes podcast reveals. Market analyst Benedicte Mikolajczak draws on research conducted for MEPS’s European Steel Review to share insight on recent developments in the Italian and Spanish steel markets. She reveals that, despite subdued demand and a slow start to 2026, CBAM-related import supply uncertainty has allowed steelmakers and distributors to push up their selling prices.Listen now for more insight into the factors affecting steel supply, demand and the outlook for Southern Europe’s steel markets, including: A potential supply imbalance as Southern Europe’s steelmakers ramp up production Distributors’ growing apprehension about selling stock as prices continue rising Importers’ attempts to seek out viable post-CBAM import sources How the region’s construction sector is offering some demand support after its auto sector bottomed out

The 45-minute discussion explores the key factors influencing steel demand, supply and prices across Europe, the United States and Asia at the start of 2026 and considers how they will shape the year ahead. MEPS managing editor Tom Sharpe is joined by head of price analysis and forecasts Kaye Ayub and steel market analyst Michelle Kirton for the discussion, which draws from research conducted for MEPS’s Stainless Steel Review. Listen now, via YouTube, Spotify or Apple Podcasts to hear MEPS’s discussion about: January’s soaring nickel values and their effect on stainless steel prices in the months ahead Import purchases of which steel products have been rendered unviable by the EU’s emissions-based CBAM import taxes, and which remain attractive despite the added costs How increased trade restrictions are reshaping steel supply chains and threatening business models Whether improved demand and tighter supply might bring improved profits for steel suppliers in 2026

CBAM was described as “the opportunity EU steel mills have been crying out for” as MEPS panellists discussed the added cost of newly introduced emissions-based import taxes in the latest Speaking of Steel podcast.The European Commission’s December publication of the EU emissions benchmarks and country-specific default emissions values that are central to the calculation of CBAM taxes should have provided clarity to steel market participants. Instead, its 1,600 pages of documents left many in a continued state of uncertainty.In the latest instalment of the Speaking of Steel podcast, MEPS’s head of price analysis and forecasts, Kaye Ayub, joins steel market analyst Jon Carruthers-Green and managing editor Tom Sharpe to discuss the repercussions of CBAM import taxes implemented from January 1.The “counting the cost of carbon” episode of Speaking of Steel reveals:The cost of CBAM taxes on the EU’s most imported steel products.How high country-specific default emissions values have prompted mills’ race to verify their actual carbon output.The EU’s evolving carbon market: how CBAM costs will be influenced by the Emissions Trading Scheme (ETS).Details of the CBAM methodology and how it might evolve.The European Commission’s role as a pioneer of emissions-based import taxes, and whether others might be encouraged to follow its lead.

Panellists on MEPS’s latest Speaking of Steel podcast have described how 2025’s top steel industry trends created a trading climate “defined by uncertainty” for many steel buyers. MEPS’s head of price analysis and forecasts Kaye Ayub, head of research Stuart Gray and steel market analyst Jon Carruthers-Green join managing editor Tom Sharpe for the 45-minute long 2025 steel market review episode, which also reflects on the outlook for 2026. Among the themes explored in the episode are:  The continued growth of steelmaking overcapacity and the surge in global trade protection measuresThe key drivers of an economic slowdown in China and Europe and their influence on steel prices International trade uncertainty triggered by President Trump’s Section 232 tariffs and the EU’s emissions-based CBAM taxes The outlook for 2026 and the potential risks that could stall any steel market recovery 

Supply constraints resulting from the United States’ Section 232 import tariffs are providing support for long steel product prices, MEPS’s latest Market in Minutes podcast reveals. US steel market analyst Laura Hodges joins managing editor Tom Sharpe in this 15-minute episode of Market in Minutes, which is part of MEPS’s Speaking of Steel podcast series. Listen now via Spotify, YouTube and Apple Podcasts for MEPS's US steel market insight, including:Supply trends, dictated by reduced imports and US producers’ autumn outages.The US steel sector’s hopes of improved demand from construction and automotiveHow the Federal Reserve’s interest rate cuts might boost the steel price outlook for 2026

Steel market analyst Jon Carruthers-Green sets out the key features of the new proposals in the 20-minute episode offering insight into how the new trade defence mechanism is likely affect steel supply, demand and prices.In conversation with MEPS managing editor Tom Sharpe, Carruthers-Green also:Discusses the likely changes to the EU's tariff-rate quotas, detailing potential winners and losers.Reflects on speculation about the measures’ possible implementation date.Considers likelihood that key EU trade partners could respond with retaliatory tariffs.

MEPS's new Market in Minutes podcast explores how challenges faced by Europe’s steelmakers and automotive manufacturers will raise the stakes in annual steel contract price negotiations between the two sectors in the coming months. The latest episode sees Professor David Bailey, professor of business economics at the University of Birmingham’s Birmingham Business School, Jato Dynamics global automotive analyst Felip Munoz, and MEPS head of research Stuart Gray share their insight with MEPS managing editor Tom Sharpe.Among the topics explored in MEPS’s European automotive-themed episode of Speaking of Steel are: Faltering demand for cars and the sustainability of Europe’s auto sector Are tariffs the answer? The growing market share of Chinese-made vehicles JLR’s recent cyber attack and the impact on the automotive supply chain What is the most likely outcome of automotive steel contract negotiations for 2026? 

Investment in Central Europe’s defence, energy and automotive sectors is unlikely to significantly increase prices in steel’s spot market, MEPS’s latest Market in Minutes podcast reveals.MEPS’s International Steel Review reported that recent GDP forecasts positioned Poland as the EU’s fastest growing economy. However, research lead Chris Jackson says that any recovery in steel prices is likely to be modest and incremental amid continued low spot market demand. Jackson, who shares the findings of MEPS research with managing editor Tom Sharpe in the new episode, said: “Military and energy aside, companies engaged in commercial sales and day-to-day-spot business may not be reaping the rewards that are projected for those industries.”Featured among the topics covered in this Central Europe-themed episode of the Market in Minutes podcast series are:Encouraging economic indicators: defence, energy and automotive show signs of promise. Subdued spot market demand continues to stall any steel price recovery Rising production: growing capacity utilisation at HutaEncouraging economic indicators: defence, energy and automotive show signs of promise. Subdued spot market demand continues to stall any steel price recovery Rising production: growing capacity utilisation at Huta Czestochowa Ukraine’s steel exports and the uncertainty created by the EU CBAM

Steel market analysts Adam Crookes and Jon Carruthers-Green joined MEPS managing editor Tom Sharpe to reflect on key industry topics that will be discussed at the annual event, held at the NEC Birmingham, on September 10-11, in the latest episode of MEPS’s Speaking of Steel podcast. The 20-minute episode is available via YouTube, Spotify and Apple Podcasts and covers: Sentiment in a challenging UK steel market Market participants’ response to new UK import safeguard measures How US import tariffs have intensified calls for tighter trade defence measures  The importance of aligning UK and EU emissions trading schemes to minimise CBAM disruption MEPS’s presence at the UK Metals Expo 2025MEPS’s head of price analysis and forecasts, Kaye Ayub, will host panel discussions on the carbon steel and stainless steel markets, at next week's UK Metal Expo. Each will feature a panel of four industry experts, as previously reported by MEPS. Furthermore, a team of MEPS researchers will be available on stand B44, throughout the event, to discuss steel prices and market forecasts with attendees.

MEPS International’s latest Market in Minutes podcast heard that steel demand was “nowhere near” US market participants’ earlier expectations, during August.US steel market analyst, Laura Hodges, drew on research conducted for MEPS’s International Steel Review to summarise the nation’s steel market, its key price trends and outlook in the new 12-minute episode.Hodges said that steel supply was plentiful, with domestic steelmakers’ utilisation rates were trending close to 80% and imports remaining above two million tonnes per month, despite 50% Section 232 steel tariffs.However, speaking to MEPS managing editor Tom Sharpe, she added: “You get the sense, speaking to MEPS research partners, that demand is just ‘okay’ and certainly not anywhere near where they thought it would be at the start the year.”MEPS’s Internationals Steel Review recorded prices down for all flat steel products, in the US, during August. A less negative trend was recorded for flat products. Despite the recent decline, Hodges said that prices are likely to trend low during the remainder of 2025."

Cost-conscious steel buyers will not pay more for low-emissions green steel at a time when many industry sectors remain in slowdown, MEPS International’s latest podcast heard.The new ‘Green Steel Survey Special’ episode of the Speaking of Steel podcast explores feedback from stockists and buyers from across the world who were asked to define their participation in the market for low-emissions steel during the steel market insight provider's recent survey.MEPS’s head of price analysis and forecasts, Kaye Ayub, and market analyst Jon Carruthers-Green joined managing editor Tom Sharpe for the debate.“It’s clear from the responses to the MEPS Green Steel Survey that certain industry sectors are starting to prioritise the use of low-emissions material in certain countries, but it’s also clear that there is a long way to go,” said Sharpe.Among the questions addressed in this episode of the MEPS Speaking of Steel podcast are:What proportion of steel buyers are currently engaged in the purchase of green steel?Are steel stockists willing to take a gamble on more expensive, low-emissions steel at a time of low demand and tight profit margins?Will CBAM proved to be the tipping point that prompts the wider adoption of green steel in EU industry sectors?How might the demands of decarbonisation, and the conditions needed to produce steel sustainably, re-shape the steel industry?

MEPS International’s latest Market in Minutes podcast explores the reasons why Southern Europe’s steel prices continued their recent decline in June, and how the trend is making the market increasingly "scary" for stockists.Steel market analyst Benedicte Mikolajczak joined MEPS managing editor Tom Sharpe to reflect on her research among steel market participants in Italy and Spain, which featured in this month’s European Steel Review. The 12-minute podcast episode – part of MEPS’s Speaking of Steel podcast series – also shares insight into the outlook for the region’s steel supply, demand and prices.Among the topics discussed in MEPS's latest Market in Minutes podcast are:How the downward steel price trend was making the business climate increasingly “scary” for Southern Europe’s stockists.Oversupply in a context of low demand from many of the region’s steel consuming sectors.The weak US dollar, and how it increased competition from low-cost steel imports during the May-July period.Southern Europe’s steel importers now “juggling” the challenges of antidumping duties, safeguard quotas and CBAM to source material.Will CBAM steer Southern Europe’s steel buyers towards domestic steel procurement, supporting prices in the second half of the year, and into 2026?

Overcapacity will continue to apply downward pressure to global steel prices regardless of stringent US import tariffs, trade defence measures or steelmakers’ production cuts, according to a new MEPS podcast.Head of prices and forecasts, Kaye Ayub, data lead Ewan Gilfillan and steel market analyst Jon Carruthers-Green join MEPS managing editor Tom Sharpe for the latest instalment of the Speaking of Steel podcast."Overcapacity is going to be an issue for the next five, 10, 15 years,” Carruthers-Green said in the podcast, entitled "Overcapacity risks ‘race to the bottom’ on steel prices".He added: “This is not going away quickly unless there are big announcements and what that would mean is lots of job losses and lots of plants closing down.”

Steelmakers’ production cuts are failing to support sales prices in Northern Europe amid weak demand and plentiful supply, according to insight shared in a new MEPS podcast episode.In the latest instalment from MEPS’s Market in Minutes series, steel market analyst Stuart Gray said that producers were attempting to achieve “equilibrium” between supply and demand in the region, but added: “At the moment, we don't find that's working”.The 12-minute “Steelmakers’ cuts fail to support North Europe prices” podcast explores the effect of revised EU import safeguard measures, US import tariffs and governments' attempts to stimulate economic growth on the region's steel prices.

UK Steel director general Gareth Stace says that government must create a “competitive business environment” for domestic steelmakers after it stepped in to save British Steel’s Scunthorpe operations.Stace is interviewed by MEPS managing editor Tom Sharpe as part of this episode of the Speaking of Steel podcast, entitled ‘Can British Steel succeed in tough UK market?’. MEPS steel market analysts Jon Carruthers-Green and Chris Jackson also discuss recent changes at the UK steelmaker, which came under government control in April.In this episode of Speaking of Steel, the MEPS team discuss the developments that led to that historic move. It also considers:How parliament reconvened to ensure Scunthorpe’s blast furnaces kept runningBritish Steel Scunthorpe’s importance to the steel supply chain in the UK and EuropeThe need for the UK government to create a new strategy to support domestic steelmakingBuyer sentiment in the UK steel market

The United States’ recent surge in steel prices has stalled as many businesses feel “paralysed” by uncertainty about import tariffs, according to MEPS’s new podcast.Speaking to MEPS managing editor Tom Sharpe in a short-form Market in Minutes episode of the Speaking of Steel podcast, US steel market analyst Laura Hodges said: “I hate to say the word paralysed, but companies cannot plan ahead with this type of uncertainty.“As for the outlook, we actually have prices continuing that ‘breather’ for the next couple of months, primarily just due to the uncertainty. I think that prices are going to sit in this holding pattern in May and into June. After that I think we see prices start to fall back.”

MEPS International’s latest Speaking of Steel podcast debates revisions to the European Commission's steel import safeguard measures and the further trade defence measures that might follow.Recorded as the new rules came into force, the new episode details the changes that were implemented from April 1 and draws on MEPS’s research to consider market participants’ responses. It also considers the potential influence of further trade defence measures proposed in the Commission’s Steel and Metals Action plan.Market analyst Jon Carruthers-Green said that certain steel supply “pinch points” could emerge as a result of the new caps applied to exporting nations’ use of the “other countries” quota category for various steel products. He said that the new restrictions on tariff-free imports had been determined by “how severely the import pressure was assessed to be”.“For hot rolled coil, that actually has been dropped down to 13% (from 15%), but then it’s also been introduced for cold rolled coil, plate, rebar and even on some stainless products now”, said Carruthers-Green.Fellow steel market analyst Chris Jackson said European steel buyers’ uncertainty about steel imports, which resulted from speculation about the possible changes, had not reduced following their implementation. He said: “Buyers were taking a step back, adopting a wait and see approach and keeping their order placement to a minimum.“Now we’re in that post-announcement phase you’re starting to see some new trends emerge, but we’ve certainly got that feeling that imports come with an element of risk.”Among the topics discussed in this latest episode of the Speaking of Steel podcast are:The European Commission’s plans for new import safeguard measures, post-2026, and a possible “melted and poured” rule for steel importsEuropean steel buyers’ exploration of new import sources to avoid dutiesEuropean steelmakers’ continued efforts to raise prices amid the perception of restricted supply

The North American steel market has been reset by the blanket reintroduction of Section 232 import tariffs, the latest MEPS podcast has heard. Reflecting on the results of research conducted among market participants in the region, before and after the March 12 implementation of the 25% import tariff, the latest Speaking of Steel podcast suggests change has come quickly. "We’re now seeing the reality of the situation emerge," said MEPS steel market analyst Chris Jackson. The effect of 25% automotive import tariffs and the country-specific reciprocal tariffs announced by President Trump on April 2 were also discussed in the new Speaking of Steel  podcast. Among the other topics of the North America-focussed podcast were: How Section 232 speculation created supply uncertainty, accelerating  US hot rolled coil price increasesCanadian steel producers’ exposure to the US marketHow MEPS will monitor a “decoupling” of US/Canada steel pricesWill Section 232 tariffs “level the playing field”, presenting opportunities to some countries’ steel exporters?

European distributors have “pushed back” on domestic mills’ stainless steel price rises as weak demand continues to squeeze their profit margins, a new MEPS podcast reveals.In this seven-minute episode from MEPS’s short ‘Market in Minutes’ podcast series steel market analyst Michelle Kirton shares insight into March’s increasingly subdued stainless steel market, which undermined mills’ attempts to realise higher prices. “Uncertainty was the keyword in last month’s research in almost every region we research and that’s because of the US trade tariffs,” she said.“While this won’t directly affect all the distributors and stockists [in Europe], it will affect end-users, and if they’re producing less and buying less steel that will have a knock-on effect.”Also discussed in this month’s Market in Minutes podcast on the European stainless steel market are:Distributors' and stockists' profitability at riskExpectations that EU safeguard measures’ quotas to fill quickly, despite recent revisionsThe effect of the European Commission’s proposed “melted and poured” rule for importsA price outlook for the months ahead

MEPS’s latest Speaking of Steel podcast considers whether EU decarbonisation policies promise to deliver a sustainable steel industry or risk raising the cost of production to uncompetitive levels.Focused on the content of the European Commission's newly-published Clean Industrial Deal, the new podcast explores the key features of the new strategy to decarbonise EU industry by 2050.Although many features of the deal are clearly designed to reduce emissions and increase efficiency, the road to greener production may raise steelmakers’ costs in the near-term, according to MEPS steel market analysts Jon Carruthers-Green.“There is no global consensus on how to decarbonise the steel industry,” he said.“This is something that Europe is leading on, so, of course there is going to be that risk of production elsewhere being a lot cheaper, because [overseas producers] can do it without these additional restrictions.”Fellow steel market analyst Michelle Kirton joins Carruthers-Green and MEPS managing editor Tom Sharpe to explore the possible effects of the Clean Industrial Deal on EU steelmakers’ profit margins and the price of steel.Commenting on the contents of the Clean Industrial Deal and the implications of CBAM – a vital component of the EU’s plans to decarbonise industry – Kirton said: “It is quite clear from the contacts that we speak to that there are a lot of repercussions from all these green initiatives; the decarbonisation and the application of CBAM.“Everything comes with a cost and when you're in an economy like we have at the minute, where stockists, traders and end-users are really struggling to make money, it is a hard time to be implementing things that will cost them more money.”Among the various topics discussed in the latest instalment of MEPS’s Speaking of Steel podcast series, which is titles ‘Can EU’s Clean Deal deliver sustainable steel industry?’ are:Supporting energy prices – how will the European Commission support high-emitting sectors? Accelerating the adoption of renewable energy – what opportunities will this present to steel suppliers? Driving the circular economy – will scrap export restrictions be implemented as part of efforts to boost recycling? Recognising green steel – how will emissions-based steel labelling benefit EU steel producers and buyers? Tightening import controls – the growing pressure to simplify CBAM and implement a new form of steel import safeguard measures beyond 2026. 

East Asia’s steel industry is hoping that China’s economic stimulus measures and United States import tariffs may boost the market after a slow post Lunar New Year restart.MEPS market analyst Chris Jackson discussed the major issues facing the region as he shared insight from the latest International Steel Review in this month’s episode of the Market in Minutes podcast.Jackson said: “The majority of steel consuming sectors in these countries are performing more weakly than anticipated. There’s little expectation of a demand recovery in the next six-to-12 months. But [the likes of Japan, South Korea and Taiwan] are looking at China very closely to see what will happen there and see if that might act as a catalyst for the short to medium term.”Jackson also suggested that the blanket roll out of 25% import tariffs in the United States could level the playing field for exporters, presenting a “mouth watering opportunity” for some East Asian steel producers.Part of MEPS’s regular Speaking of Steel podcast series, Market in Minutes delivers regular summaries of the key global steel markets researched by the steel market insight and price data provider.The latest episode explores the influence of various factors on steel demand and prices in East Asia, while also providing a summary of the International Steel review’s six-month outlook for in the region.

President Donald Trump’s plan to levy 25% tariffs on all steel imports into the United States will reset the punitive rate enforced by Section 232 legislation in 2018, the Speaking of Steel podcast has heard.  An executive order signed by the President on February 10 set out plans to impose the tariff from March 12. This will effectively remove Section 232 exemptions for key trading partners Canada and Mexico, along with the tariff rate quotas (TRQs) of key trading partners such as the European Union, United Kingdom and Japan. MEPS International’s steel market analysts Laura Hodges and Jon Carruthers-Green joined managing editor Tom Sharpe to debate the implication of the measures. 

The Covid-19 pandemic and Russia’s invasion of Ukraine contributed to a German economic slowdown that underpins the steel industry’s fears of continued weak demand in 2025. The latest episode of MEPS International’s Speaking of Steel podcast considers the role that the two events played in weakening Europe’s largest economy. The effect of the green transition on Germany’s steel industry and flagship automotive sector, and the collapse of its government, have further slowed its growth, with more uncertainty yet to come.   Research conducted forMEPS’sEuropean Steel Review reveals that participants in the German market now struggle to envisage a recovery. Speaking in the new Speaking of Steel podcast, MEPS steel market analyst Jon Carruthers-Green said: “Add some Donald Trump into the mix, and all the uncertainty he brings, and you’ve got to wonder whether, for this very fragile economy, this is another tipping point.”Carruthers-Green joined fellow steel market analyst Stuart Gray and MEPS managing editor Tom Sharpe for the recording of the latest Speaking of Steel podcast. Gray believes that a resolution to Germany’s recent political issues may provide a stimulus for infrastructure investment in the second half of 2025, increasing steel demand. Revisions to the European Commission’s import safeguard measures could also restrict the influx of steel products into Europe from other parts of the world from April 1, further increasing sales opportunities.  “If you look at imports from last year, just below the 16 million tonne mark, maybe steel producers are eyeing that, to try and take some of that back”, said Gray.  “That could be something that they can take something from, in terms of [sales] volumes.” 

Improving steel demand and reduced imports present upside risks to United States price forecasts recently downgraded as a result of a “higher for longer” outlook for interest rates.  MEPS International’s US steel market analyst Laura Hodges explored the various factors at play as she shared an overview of an eventful start to 2025 for the US steel market in the latest Market in Minutes podcast episode. The nine-minute episode draws on research for MEPS’s International Steel Review and the latest market developments.  Hodges told MEPS managing editor Tom Sharpe that the country’s market had started as it finished 2024, with low demand supressing steel prices. However, she reported that “signs of life” began to appear in the month that included the inauguration of new US President Donald Trump. Plate prices registered an increase after 12 consecutive months of decline, during January, while wire rod prices rose by USD50 per short ton due to a loss of domestic supply and reduced imports, Hodges revealed.  She added: “The new administration, led by President Donald Trump, with fewer regulations, should also improve steel demand as we move into 2025.” 

The latest episode from MEPS International’s Speaking of Steel podcast series explores the latest developments in Nippon Steel’s USD15 billion bid to acquire US Steel. MEPS’s US steel market analyst Laura Hodges joined managing editor Tom Sharpe to discuss President Joe Biden’s recent blocking of the deal and the fallout that followed. The President’s ruling, on national security grounds, followed his consideration of the findings from a Committee on Foreign Investment in the United States (CFIUS) investigation into the takeover. In the days that have followed, however, Nippon and US Steel have filed joint legal proceedings against the US Government in an attempt to keep the deal alive, as previously reported by MEPS. In this ‘Speaking of Steel: What next for blocked Nippon-US Steel merger?’ episode from the Speaking of Steel podcast series, Hodges and Sharpe consider: The Nippon-US Steel story so far; from political debate to legal arguments Nippon and US Steel’s continued confidence in securing a deal The future for US Steel and its workers US steel market overview: the current climate and the outlook for 2025

MEPS’s new ‘Market in Minutes’ podcast focuses on a Southern Europe steel sector where business models are changing amid the continued market slowdown. Market analyst Benedicte Mikolajczak describes a steel supply chain that is “suffering the effects of an automotive sector slowdown” in the short-form episode, which is part of MEPS’s wider Speaking of Steel podcast series. Mikolajczak summarised some of the latest findings from MEPS’s research in Italy and Spain in conversation with MEPS managing editor Tom Sharpe. Her insight draws on commentary on the region’s steel market, along with flat and long product prices, price indices and 12-month forecasts, which can be found in MEPS’s monthly European Steel Review. The topics featured in December’s ‘Market in Minutes’ podcast were: An automotive sector slowdown EU import safeguard quotas and their near-term influence on supply Steelmakers’ production cuts: will they align supply with demand Changing business models in the steel industry’s supply chain Steel demand resulting from Valencia’s flood reconstruction works

MEPS International reveals the top steel market trends of 2024 and shares its outlook for 2025 in the December episode of its Speaking of Steel podcast series. Market analysts have been analysing this year’s trends to compile 2024 global steel market summaries and five-year forecasts for the steel price and market insight provider’s annual Steel Price Outlook report. Ahead of the report’s December 12 publication, MEPS’s head of price analysis and forecasts, Kaye Ayub, and market analysts Jon Carruthers-Green and Ewan Gilfillan joined managing editor Tom Sharpe to reflect on some of its conclusions. Following this week’s recording of the ‘How will 2024's top trends shape the market outlook?’ episode, Sharpe said: “Global steel markets have been subdued across the world in 2024, but the factors behind the slowdown – both economic and political – make for some compelling reading.  “There’s a huge breadth of work reflected in MEPS’s 2024 Steel Price Outlook and it was fascinating to get together with some of the team behind it to discuss the events of the past 12 months and what lies ahead.” Among the topics explored in the ‘Speaking of Steel: How will 2024's top trends shape the market outlook?’ podcast episode are: Economic slowdown in China and Europe Steelmaking overcapacity and its effect on prices The global increase in trade defence measures How automotive's shift to EV is affecting steel demand

The latest episode of the Speaking of Steel podcast’s Market in Minutes insight series sheds light on the influence of raw material costs on global steel prices. Following on from this week’s release of the Speaking of Steel US Election Special, MEPS International market analyst Ewan Gilfillan also summarises the key trends influencing the price of iron ore, coking coal and scrap.  Gilfillan also discusses the likely influence of the Chinese government’s latest economic stimulus measures and the election of Donald Trump as the 47th president of the United States in the seven-minute online offering.    “One of the big things that we're analysing now is the effect of Trump's election and the suggestion that he would impose tariffs on imports coming into the US,” he tells MEPS’s managing editor, Tom Sharpe.  “When you look at raw material costs after the election result, they moved slightly but raw material costs are largely driven by the what's happening in China and what's happening in Australia because they're such important sources.”  Gilfillan said that a change to US import policies could increase the risk of “tit-for-tat tariffs” that would disrupt trade flows. This could reduce demand for raw materials in certain countries. Gilfillan said the effects of the US presidential outcome were currently “uncertain”. 

This US Election Special episode of MEPS’s Speaking of Steel podcast series delivers insight into the effect of Donald Trump’s re-election on the United States’ steel market. Considering how the 47th US President’s policies might influence steel supply, demand and prices in the near- and medium-term are MEPS’s US steel market consultant Laura Hodges and steel market analysts Jon Carruthers-Green, Michelle Kirton and Stuart Gray. Hosted by MEPS’s managing editor, Tom Sharpe, episode 11 of the Speaking of Steel podcast provides answers to the following questions: How is the US steel market currently performing and what are MEPS’s research partners’ post-election expectations? Trump’s tariffs – What effect will an increase in trade protection measures have on imports, US steel supply and prices. Winners and losers – Which steel consuming sectors are likely to benefit, or lose out, under the new Trump administration? Unresolved issues – How will the election of Donald Trump effect Nippon Steel’s takeover of US Steel?

There are “reasons for optimism” for an upturn in United Kingdom’s steel industry, according to a new Speaking of Steel podcast episode reflecting on insight from the UK Metals Expo 2024. Interviews with UK steel market participants – including Tata Steel UK chief executive Rajesh Nair’s comments on the steelmaker’s EAF plan for Port Talbot – feature in the latest episode of MEPS’s monthly ‘on demand’ steel market discussion. Among the topics discussed by MEPS’s panel of market analysts in this episode, are: The implications of the UK’s transition to EAF production. The UK government's recently revised steel import quotas. UK's buoyant construction and manufacturing PMIs.  A UK steel market outlook for 2025. Commenting on his conversations at the recent UK Metals Expo, MEPS steel market analyst Chris Jackson said: “I think you sensed that people have had to contend with challenging trading conditions for much of the year. There has been a realisation that Q4 is going to be equally difficult. Some people are referring to a need to ‘baton down the hatches’, but there’s certainly hope on the horizon. People do have cause for optimism.”

MEPS International US steel market consultant Laura Hodges told the latest episode of the Market in Minutes podcast that the Federal Reserve’s recent interest rate cut and mill maintenance outages should mitigate the downward pressure on US steel prices. Drawing on research featured in MEPS’s International Steel Review, Hodges presents a 12-minute overview of the factors influencing the United States market in the new episode, part of MEPS's regular Speaking of Steel podcast series. Among the other recent US steel market developments explored, in conversation with MEPS managing editor Tom Sharpe, were: Nippon Steel’s planned acquisition of US Steel; port workers’ strikes on the US East Coast; market uncertainty ahead of the presidential elections; a trade case against galvanised steel imports from 10 countries; and weakness in the automotive and construction sectors.

MEPS's head of price analysis and forecasts Kaye Ayub recently hosted the Stainless Steel Market: Exploring Trends and Price Dynamics debate at the UK Metals Expo 2024. Sharing their views on the 'hot topics' affecting the UK and global stainless steel markets were: Rodney Rice, director, Langley Alloys; Alison Taylor, head of sales (bar), Marcegaglia UK; Lauro Catelo, trader, Trasteel International; and Terry Sargeant, chief executive, chief executive, SteelBuy.

The UK government should revise its plans for EU-style emissions border regulations to avoid a six-month gap in its steel import controls, a MEPS panel debate at the UK Metals Expo heard. The topic was one of several carbon steel market 'hot topics' debated by panellists involved in the Carbon Steel Market: Navigating Trends and Price Dynamics debate at the Birmingham NEC event. Listen now to the discussion, hosted by MEPS's head of price analysis and forecasts Kaye Ayub and featuring insight from Christiane Taylor, pricing manager, Tata Steel UK, Mike Nielsen, commercial manager, Salzgitter Mannesmann UK, Tom McDougall, commercial director, All Steels Trading, and ISTA president Godfrey Watt. #steel #steelprices #ukmetalsexpo

MEPS International’s latest Speaking of Steel podcast explores the supply, demand and price implications for a sector seeking an understanding of the market’s “50 shades of green steel”. Steel market analysts Jonathan Carruthers-Green and Stuart Gray join MEPS managing editor Tom Sharpe to explore the emergence of low-emissions steel products into global steel markets in the podcast series’ 22-minute long ‘green steel debate’ episode. “What comes out loud and clear from our market research is that there's a lack of understanding in that term or that phrase green steel”, Gray said during the discussion. Carruthers-Green suggested that the cost implications of low-emissions steel are slowing the pace of green steel’s adoption, as low demand continues to depress steel prices across the world. He said: “I think where we are at the moment is you can't say the words ‘green steel’ without adding the word ‘premium’ on afterwards.

In an exclusive interview recorded for MEPS’s Speaking of Steel podcast series, Flapper discussed the EUR6 billion project to create the “world’s first integrated green steel site” in Boden, Sweden. And with just over 600 days left until the start of production, he revealed that excitement about the project’s completion is growing.  “It’s very energising working on a project like this,” said Flapper.  “The reason I joined was because I wanted to make a change and, as an employee of H2 Green Steel, I can do that.”  The H2 Green Steel project will replace coal with green hydrogen produced using local-sourced hydropower in the steelmaking process. Water and heat will be the primary emissions of its integrated, EAF-based production facility, which aims to reduce CO2 emissions by up to 95% in comparison with traditional steelmaking.  The company estimates that around five million tonnes of green steel will be produced annually in Boden by 2030, resulting in a CO2 emissions saving of 0.3 billion tonnes.  In his interview with the Speaking of Steel podcast Flapper talks about the “major milestone” of finalising funding of the project earlier this year, the challenge of decarbonising the steel industry’s supply chain and the key industrial sectors supporting the shift to green steel. 

MEPS International’s Speaking of Steel podcast features insight into a recent decline in Chinese steel prices which left them at their lowest level since 2017. The ‘Market in Minutes’ section of the September episode of MEPS’s podcast series features an overview of recent price movements in China and their effect on the wider East Asian steel market. It draws on content first published in MEPS’s International Steel Review. MEPS steel market analyst Ewan Gilfillan delivered the steel price and insight provider’s findings in conversation with MEPS managing editor Tom Sharpe. “The major talking point in MEPS’s International Steel Review, this month, was the big drop that we saw in domestic Chinese steel prices”, said Gilfillan. “The domestic Chinese hot rolled coil price now is the lowest that it's been since the middle of 2017.” Gilfillan considers the implications of the Chinese government’s stimulus measures, the country’s poorly performing real estate sector and Chinese steelmakers’ falling export prices in his ‘Market in Minutes’ conversation. He also shares some of MEPS’s forecast assumptions for the months ahead.

Stainless steel market analysts Michelle Kirton joins us to roundup the last month in the US stainless market. 

EU CBAM: will complex import rules raise steel prices? MEPS International explores the roll-out of the EU’s carbon border adjustment mechanism (CBAM) so far, and the added complexity to come, in its latest Speaking of Steel podcast. Market analysts from the steel price and insight provider discuss how stringent new requirements for accurate emissions data and the phase-in of carbon costs will add to the burden on importers and suppliers – potentially realigning Europe’s supply chains. Joining MEPS managing editor Tom Sharpe in the studio for this episode from the steel market podcast series are MEPS’s head of price analysis and forecasts Kaye Ayub and steel market analyst Jonathan Carruthers-Green. Each episode of Speaking of Steel will feature insight and analysis on a topic influencing steel prices, supply, demand and forecasts for key markets covered by MEPS’s global research. Furthermore, subscribers to the Speaking of Steel podcast will also gain access to a ‘Market in Minutes’ report, filmed alongside each month’s episode, which focuses on a specific area of insight from one of MEPS’s main steel market review publications. Listen to, or view, Episode One to benefit from: A detailed look at the timeline for CBAM’s roll-out and its milestone dates Discussion of the cost and administrative implications of the emissions-based import regulations Explanations of what an end to “default emissions” reporting and the launch of a new “carbon cost” system mean for the market The outlook for steel prices in light of CBAM’s influence on the European steel industry

Speaking of Steel Ep.1: EU Import Safeguard Changes In the inaugural episode of MEPS International’s new podcast, “Speaking of Steel,” the team discusses the significant amendments to the EU’s steel import safeguard measures that took effect on July 1. These changes have been described as having “changed the rules of the game, during the game.” Hosted by MEPS managing editor Tom Sharpe, the episode features insights from Kaye Ayub, head of price analysis and forecasts, along with steel market analysts Jonathan Carruthers-Green and Chris Jackson. They delve into the impact of these safeguard changes on steel supply and prices, sharing market reports and predictions for price trends throughout the remainder of 2024. Subscribers to MEPS will also gain access to a market summary video, filmed alongside each podcast episode, offering focused insights from MEPS’s main steel market review publications. Tune in to Episode One for expert analysis on the EU and UK import safeguard measures, market reactions, and future price trends.