According to data recently released by the National Bureau of Statistics, in early April 2021, compared with late March, among the 50 important means of production in the national circulation field, 27 product prices have increased significantly, of which steel has the most significant increase.
According to a researcher in the steel industry of Rongtong Fund, there are two main reasons for the increase in steel prices:
1. Rising raw material prices
my country iron ore mainly comes from imports. Australia and Brazil are the two major importers of my country iron ore. Among them, my country annual iron ore imports from Australia account for the highest proportion, which can reach 67%. Therefore, the fluctuation of Australian iron ore prices has the greatest impact on my country steel market. According to news on February 22, the price of Australian iron ore has soared to US$170.95/ton, catching up with the historical high of US$176.20/ton created in December last year.
The increase in iron ore prices will inevitably lead to an increase in steel smelting costs, and steel companies will inevitably pass on the rising smelting costs to steel processing companies, and steel processing companies will inevitably pass on the rising purchase costs to the steel sales market.
2. Strong steel market demand
Since the beginning of this year, the demand for steel in the real estate industry has been relatively stable. Generally speaking, as long as the demand for steel in the real estate industry is relatively stable, the market price of steel will be relatively stable. In the case of relatively stable steel market prices, this year manufacturing boom index is relatively high, which has led to an increase in steel demand. In the case of rising steel demand, the steel market has become a seller market, and steel companies have the final say on the sales price of steel.
Steel is known as the backbone of modern industry, and it occupies a very important position in the fields of construction, infrastructure, and industrial product manufacturing. The soaring steel price will inevitably bring considerable cost pressure to downstream related enterprises, and these cost pressures will inevitably be passed on to our ordinary people. For example, the recent increase in the prices of industrial products such as electric vehicles, motorcycles, color TVs, refrigerators, and washing machines is related to the increase in steel prices. Therefore, not to mention that the increase in steel prices will affect the lives of our people, that is, the increase in the price of any kind of goods will affect the lives of our people.
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