Steel (Europe) prices averaged USD 627 per metric ton in September, down 6.0% from August. On 30 September, the commodity traded at USD 600 per metric ton, down 9.8% from 30 August.
Prices plummeted in September as eurozone manufacturing production fell at the sharpest rate so far this year, according to PMI data. Notably, the key German industrial sector posted its weakest performance in a year. Moreover, a surge of cheap steel imports from China is adding further downward pressure.
This chart displays Steel (Europe) (US$/mt) from 2022 to 2024.
Hot Rolled Coil Steel EUR (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Hot Rolled Coil Steel EUR | 793 | 853 | 713 | 688 | 783 | 679 | 657 | - |