25 Feb 2021 | 14:00 UTC — London
Infographic: Slow steel mill ramp-ups fuel Europe's steel price rally
Blast furnace ramp-ups have been staggered due to an uncertain economic outlook and technical limitations.
A demand pickup starting mid-2020 has outpaced production since Q3 2020 and the resulting steel shortage has driven some European steel prices to 13-year highs. Capacity coming back on-stream in early 2021 is expected to have a palpable effect on material availability only by the end of Q2. Lead times, typically six weeks, have stretched to more than 12 weeks.
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Related Factbox: Europe steel demand recovery outpaces production growth, upholds prices
