Will construction support high US steel prices in 2026?

Fragile USMCA reduces likelihood of tariff cuts

The future of the North American steel industry’s cross-border trade could be undermined by the US government’s failure to commit to a long-term renewal of USMCA, a new Market in Minutes podcast heard.   MEPS US steel market analyst Laura Hodges discusses the effects of USMCA negotiations on the North American steel market with managing editor Tom Sharpe in the new episode of the regular podcast.   Listen to the full episode now to hear insight about this, alongside insight on: * Whether an easing of the upward trend in US steel prices is an indicator of longer-term reductions. * How US steel imports are increasing as a result of tight supply and elevated prices. * Data centre developments’ role in sustained construction sector steel demand. * Feedback from MEPS respondents in Canada and Mexico about the effects of faltering North American trade relations.

Stringent new quotas have increased the risk of exposure to elevated steel import tariffs

Stringent new quotas have increased the risk of exposure to elevated steel import tariffs, making overseas procurement a “high stakes gamble” for buyers in the EU and United Kingdom, a new MEPS podcast concludes.   The new episode, featuring insight from steel market analysts Jon Carruthers-Green, Adam Crookes and Benedicte Mikolajczak and hosted by MEPS managing editor Tom Sharpe, covers the following topics: * Winners and losers: the revised TRQs already exceeded, creating cost concerns for buyers * Flexibility or complexity? The EU Steel Regulation’s new “overflow” quotas for countries with a free trade agreement * Incoming EU “melt and pour” rules of origin: their influence on overseas procurement and future TRQs * The steel supply squeeze created by reduced imports and its influence on prices as inventories decline * The UK steel production limitations behind buyers’ supply concerns

Are high prices boosting steelmakers’ profits?

Not all large global steelmakers have leveraged high steel prices to return strong profits during the first quarter of 2026, research conducted for MEPS’s latest Speaking of Steel podcast revealed.   MEPS’s head of price analysis and forecasts, Kaye Ayub, joined steel market analyst Laura Hodges and managing editor Tom Sharpe to explore the profitability of the largest steel producers in the United States, Europe and Asia in the latest episode. Among the topics explored are: * The quarter one profits of large steelmakers in the US, Europe and Asia * Raw material prices and the prospect of rising production costs * Escalating trade defences and their effect on procurement * How changes in the EU market outlook has stalled takeovers and long-term investments * Whether elevated prices can be sustained[JP9]  amid continued low demand

Policy-driven trends define European stainless market

MEPS’s new Market in Minutes podcast revealed that an uptick in domestic stainless steel procurement, driven by tightening trade defences, could be starting to slow across Europe. Stainless steel market analyst Michelle Kirton delivers a 15-minute overview of Europe’s stainless steel market in conversation with MEPS managing editor Tom Sharpe in the latest edition of the monthly podcast. MEPS’s new Market in Minutes podcast, entitled “Policy-driven trends define European stainless market” addresses: * How steelmakers’ selling price gains have slowed after six months of increases * UK stainless steel long product buyers’ concerns about planned import restrictions * The stainless steel-consuming sectors providing pockets of strong demand * MEPS outlook for stainless steel prices in Europe

Nordic steel prices supported by supply concerns

Nordic steel prices are being supported by anticipated supply constraints and rising costs, MEPS’s latest Market in Minutes podcast reveals. Steel market analyst Adam Crookes joined MEPS managing editor Tom Sharpe to provide an 11-minute overview of the steel markets in Finland, Denmark, Norway and Sweden in the new episode.   Crookes said that steel demand had failed to live up to expectations during the first four months of the year. However, supply concerns have prompted a degree of restocking and some notable price increases. MEPS's Nordic hot rolled coil prices have risen by an average of more than 10% during the period.   Also discussed in the Nordic-themed Market in Minutes podcast are: * Rising inflation and the risks it poses to a steel demand recovery * How steelmakers’ delivery lead times indicate available capacity for certain products * Long products’ continued price rises amid increasing EAF production costs