UK-based steel trader All Steels is anticipating significant structural changes that could rapidly boost steel demand and drive prices upward. Managing Director Laurence McDougall highlighted these changes in the company’s recent market evaluation. Despite a challenging year marked by weak demand, falling prices, and high operating costs, McDougall remains optimistic about the future.
Key developments include planned UK infrastructure spending, which is expected to increase under streamlined approval processes. Additionally, the introduction of the EU’s Carbon Border Adjustment Mechanism (CBAM) in 2026 and the UK’s version in 2027 is likely to impact steel prices significantly. McDougall predicts a surge in steel purchases ahead of these new regulations, as imported steel will become more expensive.
The high cost of borrowing has slowed economic activity, but as borrowing becomes more affordable, it is expected to stimulate construction and increase steel demand. While immediate changes are unlikely at the start of the new year, these positive developments are expected to take shape in 2025.
