This is the last edition of the Kallanish Steel Weekly for 2021, the publication takes a short break, but will be back in early January 2022 to continue following the global market trends. 2021 was an extra-ordinary year for steel prices. As the year comes to an end we have decided to look back at what happened to finished steel prices globally, to better appreciate the magnitude of the price rally registered during the last twelve months.

2022 will surely be a different year, but the biggest question at the moment is: "Will the new year bring a new scenario for prices or have we entered in a new normal with elevated steel prices?". Predictions for future market developments remain tricky, but what we learned during the last twelve months is that despite demand uncertainties and the persistent impact of the pandemics on our lives, steel prices seem to have entered a new cycle, led mainly by higher raw material costs, energy prices and investments toward a green transition of the industry.