Steel (Europe) prices averaged USD 600 per metric ton in October, down 4.4% from September. On 31 October, the commodity traded at USD 600 per metric ton, unchanged from 30 September.
Prices flatlined in October, staying at their lowest level since late 2020. Sustained manufacturing weakness in the Eurozone, particularly in industrial heavyweights Germany and France, remains a key drag on steel demand. Meanwhile, the ECB’s October rate cut seemingly failed to reinvigorate short-term industrial demand.
This chart displays Steel (Europe) (US$/mt) from 2022 to 2024.
Hot Rolled Coil Steel EUR (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Hot Rolled Coil Steel EUR | 793 | 853 | 713 | 688 | 783 | 679 | 657 | - |