In a new report from Sheffield based market analysts, MEPS, ‘EU Steel Price Forecasts to 2017’ the authors contend that annual average steel prices in the region will improve next year and for the following two years.

The third quarter of 2013 is forecast to be the low point in this cycle for both the flat and long product forms of finished steel products. The annual upturn in the MEPS All Products Composite Price in 2014 is expected to be in excess of 7%. More modest gains are anticipated in the following two years. The level in 2016 is predicted to be above the figure recorded in 2011.

Quarterly forecasts are presented in the report for the four main flat products and the four major long product categories. Predictions of trends in steelmaking raw material costs are also recorded in the report. Seasonal variations in steel prices are anticipated over the forecast period. These are contained in the quarterly charts supplied.

The EU report is the first in a family of regional steel price forecast reports by MEPS International Ltd. These include the Asian, North American and Global average figures and will be available in late August , this year.

Source: MEPS - Steel Price Forecasts to 2017