Steel prices back to before the war in Europe

Steel coil prices fell to the price reported before the Russia-Ukraine war.

While the prices were expected to recover in July the continued decline surprised the market.

Extra steel was ordered in March and April to stockpile the potential deficit caused by Ukraine being at war. These orders were placed at the highest price.

However, as the prices began to decline buyers began to delay the supply of their orders. This contributed to the continuation of the price decline.

This will continue until prices stabilize or stocks are replenished.