Steel prices are dropping: replace your product – right now!

5 Jan 2023

Although the prices for steel and other materials are subject to change, we see that the price drop of steel (for example, the hot-dip galvanized steel type Sendzimir) continues. “But we don’t have a crystall ball, of course, so things can change again”, says Rudi Loef. Nevertheless, our buyer thinks that now is a good time to invest. He explains why.

At Stafier, we keep a close eye on the changes in the steel market. After all, in recent years there have been plenty of factors that influenced the prices, availability and delivery times of steel, copper and zinc, among others. “We live in uncertain times”, Rudi says. “The war in Ukraine, the Covid pandemic heavily affecting global player China, the energy crisis… It’s therefore difficult to say that the current decline will continue or that prices will rise again.”

Supply and demand are not even

What we do know is that supply and demand have been out of balance for a long time. Due to the current economic situation, the demand for materials has decreased, while factories in Europe still have large stocks. “But on the other hand, a number of European steel factories have already shut down productions”, Rudi says. “Precisely because of the declining demand and rising personnel and energy costs.”

Don’t miss out

No one knows whether material prices will fall further, but it looks like the bottom has been reached. And that’s why Rudi can give some advice. “If your products need to be replaced, it looks like an interesting time to replace your materials. The more factories close their doors, the longer the delivery time will be. With rising prices as a result. So make sure you don’t miss out and order your materials on time”, he concludes.

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