U.S. and European Steel Prices

If your company relies on a steady supply of steel, you are probably quite aware that the price of U.S. benchmark hot-rolled coil steel recently hit a two-year high of $783 a ton. At the same time, European steel prices have fallen, leaving a $128-a-ton gap between the two regions. That’s both good and bad news. Good, because the improvement in prices on this side of the Atlantic means that manufacturers and suppliers are responding to some very welcomed, upbeat economic data, like a drop in new unemployment claims, a rise in the ISM purchasing managers’ index, and the highest steel mill production since the beginning of the financial crisis.

It’s bad news because higher prices for raw materials all too often do need to be dispersed between manufacturer and customer. Also, the slew of negative European economic factors equals lower overseas demand and sales.

Because we’re a company built on long-term relationships, we just want to let you know that we’re doing everything we can to control costs so you don’t feel the pinch. If your prices do increase, we want you to know why. As a trusted vendor of high-quality steel stampings, wire, and assemblies, we watch the trends and pricing forecasts closely to stay competitive and cost-effective for our customers.

With this in mind, Keats wants to promise everyone that we will make every effort to keep you informed about any price fluctuations that might affect your bottom line.

Prices rise and prices fall, but just know that our quality and commitment to you, the customer, will always remain high.


Leave a Reply

Your email address will not be published. Required fields are marked *