Acute coil shortages in Europe and the US have resulted in steel prices reaching their highest level since 2008 and attracting export interest from Asian mills -- and the situation seems unlikely to change until steel production picks up from the second half of the year, meaning export opportunities will prevail in Q2.
US Midwest hot-rolled coil prices have risen by 33% since the start of the year, while prices in northern European have surged 36.5%, S&P Global Platts data shows. Delivery lead times have blown out in both markets, with many customers unable to secure steel in the current quarter. The US expects imports to start picking up in summer, which could help ease supply tensions.
