Steel (Europe) prices averaged USD 756 per metric ton in March, down 5.5% from February. On 29 March, the commodity traded at USD 730 per metric ton, down 6.4% from 29 February.
Prices fell amid still-subdued manufacturing activity in the Euro Area, as signaled by deeply pessimistic manufacturing PMI data for March. On a more bullish note, inflation in the Euro Area slowed more than expected in March, which could prompt the ECB to cut rates sooner than expected, boding well for steel demand in turn.
This chart displays Steel (Europe) (US$/mt) from 2022 to 2024.
Hot Rolled Coil Steel EUR (prices in US$/mt, aop)
| Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
|---|---|---|---|---|---|---|---|---|
| Hot Rolled Coil Steel EUR | - | - | - | - | - | 1,240 | 788 | 655 |