British steel industry consulting and research firm MEPS Ltd. issued its latest steel price analysis in late February predicting double-digit hikes in global steel prices during 2008.

British steel industry consulting and research firm MEPS Ltd. issued its latest steel price analysis in late February predicting double-digit hikes in global steel prices during 2008.

“U.S. mills appear to be busy with delivery lead times stretching out to early April. Customers need to replenish stocks and there is a lack of imported steel at present, although this could change later in the year,” according to MEPS. “Canadian mills have solid forward order books. Transaction prices continue to advance at a rapid rate as delivery lead times move out to April,” the assessment continued.