Steel (Europe) Prices

Steel (Europe) prices averaged USD 818 per metric ton in May, down 1.5% from April. On 29 May, the commodity traded at USD 800 per metric ton, down 3.6% from 30 April.

In May, EU steel prices fell after rising for nine months; high energy prices and expectations of ECB interest rate hikes—both weighing on industry—hit demand prospects. Nonetheless, prices are still up 10% this year so far, driven by the introduction of the Carbon Border Adjustment Mechanism (CBAM) at the start of the year.