“Steel Prices Keep Rising! Deep Dive into Global Market Pressures in 2026 — From Wars to Construction, Recovery with Surging Costs” Article by SO OK TRADING · March 26, 2026
Here’s the full English version of your article, polished for clarity and impact while keeping the strong analytical tone:
“Steel Prices Break the Ceiling in 2026: How Wars, Tariffs, and Demand Push Global Costs to a New Baseline”
Rebar, hot-rolled coils, and structural steel prices surge: Track steel prices and future trends with SO OK TRADING
Article dated: March 26, 2026
Global Steel Market Overview 2026
In 2026, the global steel industry is in a phase of “gradual recovery,” yet prices have risen significantly due to overlapping pressures — wars, trade tariffs, and demand recovery in key regions.
Global demand: Expected to grow 1.3%, reaching ~1,773 million tons
China: Domestic demand remains flat, but massive exports of cheap steel continue to pressure global markets
India: Demand surges +9% driven by large-scale infrastructure projects
Europe/US: Recovery supported by tariff measures and the push for “green steel”
Why Steel Prices Spiked (March 2026 saw >10% surge)
The sharp rise in Q1/2026 was no coincidence — it was the result of multiple overlapping forces:
Wars & Geopolitics
Middle East conflicts → soaring oil and transport costs
Risk of closure at key shipping routes (e.g., Strait of Hormuz) → temporary shortages
Russia–Ukraine halting exports of semi-finished steel and iron ore → global resource scramble
Trade Measures & Tariffs
US & EU imposed tariffs up to 50% on Chinese steel → immediate domestic price hikes
EU’s CBAM (Carbon Border Adjustment Mechanism) → drove “green steel” prices higher, pulling general steel prices up
Demand Recovery & Stockpiling
India & US construction booms → hot-rolled coil (HRC) demand surged
Contractors and dealers rushed to stockpile → short-term buying frenzy
Impact on Thailand
Domestic steel prices rose 5–10% within weeks
Structural steel and steel sheets were hit hardest due to rising transport and raw material costs
Government is considering anti-dumping (AD) tariffs to stabilize prices and protect local producers
Steel Industry Outlook 2026
Q2/2026: Prices expected to remain stable or rise slightly; US HRC forecast at $931–$1,100/ton
Full year: Global demand projected to grow 1.3% (~1,773 million tons)
Prices will continue to align with the “new high-cost baseline” rather than returning to pre-crisis lows
Conclusion
2026 marks the beginning of a “New Era of Expensive Steel.” Wars, tariffs, and demand recovery are combining to push prices higher both globally and in Thailand. While prices may not skyrocket as they did during the COVID era, returning to old low-cost levels is unlikely.
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