The European economy emerges from recession in the second half of 2022 due to falling energy prices. In the first quarter of this year, the increase in warehouse stocks in the flat product regional market reflected positively on demand and prices.
But the EU and the US are at risk of a recession that could trigger a banking crisis. Western governments will likely once again have to choose between an economic downturn or a new rise in inflation. These aspects will affect the cost of steel products in the opposite direction.
There was a recovery in Turkey in the second half of February and at the beginning of March due to the expectations for large-scale reconstruction works after the earthquake. Due to the increase in the scrap metal price, the cost of rolled products in Turkey may increase.