Steelmakers in Germany predict price hikes in March

In the German steel market, an increase in prices for steel products is predicted in March this year
The March index of market sentiment amounted to 75 points, both on the part of distributors and manufacturers. The average for February was 54 points. This change indicates positive expectations for the coming weeks.

According to one of the traders, the market is showing cautious optimism, and the factories have the advantage in pricing, as they filled the order books before deliveries in June. At the same time, import offers are limited and only available from August.

Now that the European steel market is experiencing the effects of a massive production cut in the second half of 2022, most attribute the rise in prices to a strong backlog of orders and demand support. These factors are pushing delivery times towards early summer for most European flats producers. In particular, it is expected that prices for it will grow gradually without sharp fluctuations. In addition, replenishment of stocks from buyers is predicted in the near future - the last orders of large volumes were received in January of this year.

At the same time, European metallurgists have begun restarting production capacities amid renewed demand. However, according to market participants, the restart of some blast furnaces in March-April this year will not have an immediate impact on supply and prices - additional volumes will appear only in June-July.