The carbon steel and stainless alloy steel price of a certain raw material has risen significantly since 2021 year February end . In the past 2 months, we have tried our best to control the increase in cost. However, as the price of raw materials continues to rise, we have been unable to fully digest the resulting increase. As a result, we have no choice but to increase the quotation of the product. Our focus is still to provide high-value products and services to customers around the world.
Iron ore is trading at $150-160 a ton on average, and is likely to rise above $193 this year, perhaps even to $200, if demand stays strong, Ge Xin, a senior analyst with Beijing Lange Steel Information Research Center, told the Global Times on Tuesday.
Due to the rapid rise in steel prices, some steel traders are reluctant to sell or even limit sales at the current stage, with the expectation that the prices may go even higher later this year, according to industry research group.
In 2020, China produced 1.053 billion tons of crude steel and 1.325 billion tons of steel products, recording a year-on-year increase of 5.2 percent and 7.7 percent respectively. Aside from the decreased steel production in March due to the impact of COVID-19 pandemic, the steady steel output rise was realized in other 11 months, CISA said.
With the start of economic recovery in the second half of 2020, the country's demand for steel has elevated. Consumption of crude steel in China rose 9 percent due to the reviving construction and manufacturing sectors.
China's steel demand also elevated the global steel market. China imported 20.23 million tons of steel products in 2020 which rose 64.6 percent year-on-year. Iron ore imports hit 1.17 billion ton, an increase of 9.5 percent, the General Administration of Customs (GAC) said.
We have been already the Global steel market trend website as reference:
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