Market Report 03-2018

Steel prices are rising

After the US introduced a 25% tariff on steel, and 10% for aluminium, the prices for steel products in the United States has seen a sharp increase in domestic prices. Steel manufacturers in the US are gaining huge profits, while their customers face the consequences.
Prices are soaring compared to other countries, which leads to that the products containing steel increase in price, and are limiting their exports. Even with a 25% tariff barrier, it is now possible for mills outside the country, to sell to the US with profits.
Here in Europe we have seen an increase in prices for rebar, beams and steel. From July to August, producers are increasing their prices, and we expect a further upturn in September.