Steel Prices Surge 40% in Europe Due to War in Ukraine

Steel prices have surged since late January, due in large part to the war in Ukraine. According to trade data, Russia and Ukraine combined are the world’s second-largest steel exporters after China. European hot-rolled coil prices have exploded by nearly 40% over the past three weeks, while price hikes in the U.S. have been a bit more modest. 3/29/2022