Sharing is caring

Following the cuts in tax rebates for Chinese steel exports, which came as a surprise to many market participants, steel and raw material prices are continuing to rise. Chinese steel prices are expected to increase by up to $250 per ton. New price increases of up to 18% are also reported in Brazil. And in Europe alone, HRC prices increased by at least 20% in April 2021. Although in Europe this is more of a theoretical price increase: there is simply no domestic steel to be had.

Stainless Espresso Chinese steel prices to rise by $ 250 per ton
Stainless Espresso Chinese steel prices to rise by $ 250 per ton

ArcelorMittal raises steel prices again

European steelmaker ArcelorMittal has again raised prices. Hot-rolled coil (HRC) has increased in price by about $24 per ton and cold-rolled coil (CRC) and hot-dipped galvanized coil (HDG) by more than $60 per ton, according to the report.

The flood of price increases, not only from ArcelorMittal but also from steel mills across Europe, has been quickly absorbed in recent months as material shortages threaten to remain.

Thus, in April alone, there has been an almost 20% increase in HRC prices in Europe.

Soruce: spglobal.com

Brazilian steel prices rise up to 18% in May

Brazilian steelmaker Companhia Siderúrgica Nacional (CSN) will increase domestic flat steel prices by 16-18% in May to follow the upward trend in other global markets and offset raw material cost inflation.

Source: csn.com.br

Chinese steel prices to rise by $250 per tonne

As market sources have told us this morning, Chinese steel producers are planning to raise prices per ton by up to $250. This can already be seen as a result of the drastic cuts in VAT Rebate Cuts in China, announced by the Chinese government on April 28.

In addition, there are many offer stops for steel in Asia.

Source: Market participants

Iron ore prices at over $200 per tonne

Iron ore prices have continued their rally and were partly above $ 200 per ton this morning. Already the last few days analysts had predicted that iron ores could surpass this level.

Source: smh.com

Read also:


Sharing is caring

Related News

Receive all the latest news once a week

Receive all the latest news once a week

Make it easy for yourself: we will remind you once a week about the latest news.

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!