MEPS International Ltd predicts a recovery in steel selling values throughout Western Europe, in the near term. Declining supplies of iron ore from Brazil are leading to increased costs of this key element in the production of flat rolled products.
Market demand is expected to expand over the next six months as the weather improves and construction activity grows. Orders from the domestic vehicle manufacturing sector are projected to gradually pick up. However, the size of the steel price rises in 2019 are likely to be lower than the equivalent increases noted in 2018.