Steel (Europe) prices averaged USD 675 per metric ton in June, up 0.3% from May. On 28 June, the commodity traded at USD 670 per metric ton, down 1.5% from 31 May.
Prices edged up marginally in June from May’s average, as the demand backdrop improved slightly: In early June, the ECB cut rates for the first time since 2019. Nonetheless, the downturn in the Eurozone’s manufacturing and construction sectors worsened in June, according to PMI data, limiting price gains.
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 | - | - |