Speaking of Steel

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

Reshaping UK steel imports: the UK Steel-ISTA debate

Representatives from UK Steel and the Independent Steel Trade Association (ISTA) debated the possible repercussions of proposed steel import restrictions in the latest edition of MEPS’s Speaking of Steel podcast. ISTA president Godfrey Watt told MEPS that the Department for Business and Trade’s proposed July 1 cuts to tariff-free steel import quotas had provoked a “massive reaction” from steel traders. Meanwhile, UK Steel director general Gareth Stace described the new measures as “the biggest policy issue that I’ve come across”, adding: “I’m quite surprised that some commentators are throwing mud rather than saying what should happen so that whole steel supply chain is much more healthy in the future.”Listen to MEPS’s ‘Reshaping UK steel imports’ podcast, via YouTube, Spotify or Apple Podcasts, to hear the full debate, including:How TRQ reductions of up to 98% suggest UK steelmakers are ready to secure a record market share. The political aspect of TRQs: how EU and US trade relations could yet influence the availability of tariff-free imports. MEPS’s latest insight into UK steel buyers’ response to import quota reductions, including rising prices and a step back from new overseas orders.

Will construction support high US steel prices in 2026?

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