According to IREPAS, the levels of uncertainty in the global long steel products market have surged significantly due to the ongoing war in the Middle East. IREPAS noted that, while supply chain disruptions and rising energy costs have pushed prices up, demand remains stagnant as the duration and potential spread of the conflict remain unknown.
EU market faces regulatory and price pressures
European mills have reacted to the situation with price hikes; however, IREPAS indicates that these have not triggered panic purchases as the market is only slowly recovering from the winter season. Furthermore, imports into the EU have become extremely risky due to a lack of regulatory clarity regarding CBAM and the continuation of safeguard measures after June 2026.
In Turkey, local construction activity remains slow and export volumes have dropped by 20 percent year on year. Turkish mills are currently adjusting capacity usage in direct response to this weakened demand.
Outlook remains unstable
Concluding its assessment, IREPAS described the current market status as unstable, highlighting that widespread protectionism and geopolitical tensions have made the outlook entirely unpredictable.
