Are high prices boosting steelmakers’ profits?

Not all large global steelmakers have leveraged high steel prices to return strong profits during the first quarter of 2026, research conducted for MEPS’s latest Speaking of Steel podcast revealed. MEPS’s head of price analysis and forecasts, Kaye Ayub, joined steel market analyst Laura Hodges and managing editor Tom Sharpe to explore the profitability of the largest steel producers in the United States, Europe and Asia in the latest episode. Among the topics explored are: The quarter one profits of large steelmakers in the US, Europe and Asia Raw material prices and the prospect of rising production costs Escalating trade defences and their effect on procurement How changes in the EU market outlook has stalled takeovers and long-term investments Whether elevated prices can be sustained[JP9] amid continued low demand