FOCUS: EU steel shortage to persist throughout 2021

The supply shortage in the European steel market, which has been driving up domestic prices since late 2020, will persist until the end of this year at the very least, market sources told Fastmarkets.

Finished steel distributors have said they have been struggling to get the necessary volumes of finished steel from either domestic or overseas suppliers, adding that they do not expect the situation to improve any time soon.
In addition, end users are also facing problems securing steel products while also having to contend with rising steel prices, sources said.
"So far, mills can get higher prices and distributors also manage to pass this rise to the end users. But we have yet to see the impact of the price increases on [end consumer] industries and companies," an Italian flat steel distributor source said.
A source who trades material for the automotive industry said that he had to "fight for volumes, despite long-term agreements [that have been] settled."

European steel buyers are also concerned about the possible extension of safeguard measures on imports of a range of steel products that are due...

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