East Asia’s steel industry is hoping that China’s economic stimulus measures and United States import tariffs may boost the market after a slow post Lunar New Year restart.

MEPS market analyst Chris Jackson discussed the major issues facing the region as he shared insight from the latest International Steel Review in this month’s episode of the Market in Minutes podcast.

Jackson said: “The majority of steel consuming sectors in these countries are performing more weakly than anticipated. There’s little expectation of a demand recovery in the next six-to-12 months. But [the likes of Japan, South Korea and Taiwan] are looking at China very closely to see what will happen there and see if that might act as a catalyst for the short to medium term.”

Jackson also suggested that the blanket roll out of 25% import tariffs in the United States could level the playing field for exporters, presenting a “mouth watering opportunity” for some East Asian steel producers.

Part of MEPS’s regular Speaking of Steel podcast series, Market in Minutes delivers regular summaries of the key global steel markets researched by the steel market insight and price data provider.

The latest episode explores the influence of various factors on steel demand and prices in East Asia, while also providing a summary of the International Steel review’s six-month outlook for in the region.

President Donald Trump’s plan to levy 25% tariffs on all steel imports into the United States will reset the punitive rate enforced by Section 232 legislation in 2018, the Speaking of Steel podcast has heard.  

An executive order signed by the President on February 10 set out plans to impose the tariff from March 12. This will effectively remove Section 232 exemptions for key trading partners Canada and Mexico, along with the tariff rate quotas (TRQs) of key trading partners such as the European Union, United Kingdom and Japan. 

MEPS International’s steel market analysts Laura Hodges and Jon Carruthers-Green joined managing editor Tom Sharpe to debate the implication of the measures. 

The Covid-19 pandemic and Russia’s invasion of Ukraine contributed to a German economic slowdown that underpins the steel industry’s fears of continued weak demand in 2025. 

The latest episode of MEPS International’s Speaking of Steel podcast considers the role that the two events played in weakening Europe’s largest economy. The effect of the green transition on Germany’s steel industry and flagship automotive sector, and the collapse of its government, have further slowed its growth, with more uncertainty yet to come.   

Research conducted forMEPS’sEuropean Steel Review reveals that participants in the German market now struggle to envisage a recovery. Speaking in the new Speaking of Steel podcast, MEPS steel market analyst Jon Carruthers-Green said: “Add some Donald Trump into the mix, and all the uncertainty he brings, and you’ve got to wonder whether, for this very fragile economy, this is another tipping point.”

Carruthers-Green joined fellow steel market analyst Stuart Gray and MEPS managing editor Tom Sharpe for the recording of the latest Speaking of Steel podcast. 

Gray believes that a resolution to Germany’s recent political issues may provide a stimulus for infrastructure investment in the second half of 2025, increasing steel demand. Revisions to the European Commission’s import safeguard measures could also restrict the influx of steel products into Europe from other parts of the world from April 1, further increasing sales opportunities.  

“If you look at imports from last year, just below the 16 million tonne mark, maybe steel producers are eyeing that, to try and take some of that back”, said Gray.  

“That could be something that they can take something from, in terms of [sales] volumes.” 

Improving steel demand and reduced imports present upside risks to United States price forecasts recently downgraded as a result of a “higher for longer” outlook for interest rates. 

MEPS International’s US steel market analyst Laura Hodges explored the various factors at play as she shared an overview of an eventful start to 2025 for the US steel market in the latest Market in Minutes podcast episode. The nine-minute episode draws on research for MEPS’s International Steel Review and the latest market developments. 

Hodges told MEPS managing editor Tom Sharpe that the country’s market had started as it finished 2024, with low demand supressing steel prices. However, she reported that “signs of life” began to appear in the month that included the inauguration of new US President Donald Trump. Plate prices registered an increase after 12 consecutive months of decline, during January, while wire rod prices rose by USD50 per short ton due to a loss of domestic supply and reduced imports, Hodges revealed. 

She added: “The new administration, led by President Donald Trump, with fewer regulations, should also improve steel demand as we move into 2025.” 

The latest episode from MEPS International’s Speaking of Steel podcast series explores the latest developments in Nippon Steel’s USD15 billion bid to acquire US Steel.

MEPS’s US steel market analyst Laura Hodges joined managing editor Tom Sharpe to discuss President Joe Biden’s recent blocking of the deal and the fallout that followed. The President’s ruling, on national security grounds, followed his consideration of the findings from a Committee on Foreign Investment in the United States (CFIUS) investigation into the takeover.

In the days that have followed, however, Nippon and US Steel have filed joint legal proceedings against the US Government in an attempt to keep the deal alive, as previously reported by MEPS.

In this ‘Speaking of Steel: What next for blocked Nippon-US Steel merger?’ episode from the Speaking of Steel podcast series, Hodges and Sharpe consider:

MEPS’s new ‘Market in Minutes’ podcast focuses on a Southern Europe steel sector where business models are changing amid the continued market slowdown.

Market analyst Benedicte Mikolajczak describes a steel supply chain that is “suffering the effects of an automotive sector slowdown” in the short-form episode, which is part of MEPS’s wider Speaking of Steel podcast series.

Mikolajczak summarised some of the latest findings from MEPS’s research in Italy and Spain in conversation with MEPS managing editor Tom Sharpe. Her insight draws on commentary on the region’s steel market, along with flat and long product prices, price indices and 12-month forecasts, which can be found in MEPS’s monthly European Steel Review.

The topics featured in December’s ‘Market in Minutes’ podcast were:

MEPS International reveals the top steel market trends of 2024 and shares its outlook for 2025 in the December episode of its Speaking of Steel podcast series.

The latest episode of the Speaking of Steel podcast’s Market in Minutes insight series sheds light on the influence of raw material costs on global steel prices.

Following on from this week’s release of the Speaking of Steel US Election Special, MEPS International market analyst Ewan Gilfillan also summarises the key trends influencing the price of iron ore, coking coal and scrap. 

Gilfillan also discusses the likely influence of the Chinese government’s latest economic stimulus measures and the election of Donald Trump as the 47th president of the United States in the seven-minute online offering.  

 “One of the big things that we're analysing now is the effect of Trump's election and the suggestion that he would impose tariffs on imports coming into the US,” he tells MEPS’s managing editor, Tom Sharpe. 

“When you look at raw material costs after the election result, they moved slightly but raw material costs are largely driven by the what's happening in China and what's happening in Australia because they're such important sources.” 

Gilfillan said that a change to US import policies could increase the risk of “tit-for-tat tariffs” that would disrupt trade flows. This could reduce demand for raw materials in certain countries. Gilfillan said the effects of the US presidential outcome were currently “uncertain”. 

This US Election Special episode of MEPS’s Speaking of Steel podcast series delivers insight into the effect of Donald Trump’s re-election on the United States’ steel market.

Considering how the 47th US President’s policies might influence steel supply, demand and prices in the near- and medium-term are MEPS’s US steel market consultant Laura Hodges and steel market analysts Jon Carruthers-Green, Michelle Kirton and Stuart Gray.

Hosted by MEPS’s managing editor, Tom Sharpe, episode 11 of the Speaking of Steel podcast provides answers to the following questions:

There are “reasons for optimism” for an upturn in United Kingdom’s steel industry, according to a new Speaking of Steel podcast episode reflecting on insight from the UK Metals Expo 2024.

Interviews with UK steel market participants – including Tata Steel UK chief executive Rajesh Nair’s comments on the steelmaker’s EAF plan for Port Talbot – feature in the latest episode of MEPS’s monthly ‘on demand’ steel market discussion.

Among the topics discussed by MEPS’s panel of market analysts in this episode, are:

Commenting on his conversations at the recent UK Metals Expo, MEPS steel market analyst Chris Jackson said: “I think you sensed that people have had to contend with challenging trading conditions for much of the year. There has been a realisation that Q4 is going to be equally difficult. Some people are referring to a need to ‘baton down the hatches’, but there’s certainly hope on the horizon. People do have cause for optimism.”