Investment bank Goldman Sachs indicated that the steel balances in Europe will remain tight in the short and medium term, with no prospect of supply solutions despite prices approaching historically high levels.

The bank's analysts saw demand as the key risk, but maintain the outlook for a cyclical recovery in 2022 aided by the recovery in automobile production, which was 12% higher year on year.

On the other hand, analysts of the bank pointed out that China's imports are clearly under pressure and have also indicated that the trade agreement between the European Union and the United States could further increase the steel tightness of the European market.