Chinese steel price has kept climbing trend for 15 weeks already. Experts said this would be just a begining, it is estimated to continue increasing at least 10% in the near future.
Since the middle of April, the steel price start to rebound from the bottom line, climbed up by 20-30%. Many big steel mills raised their ex-works price over and over again. Most steel types in domestic market break their highest price of this year with a new record. Last week, only within 3 days, the steel price is up by RMB 300 / ton. On Aug. 5th, WISCO, one the biggest steel mills in China issued their new price of Sep. Based on their price of Aug, the major steel types will be raised by RMB 800 / ton.
With the sharp increase of steel price, our company face the pressure of cost growing, same as most industrial product suppliers, and feel obliged to adjust sales price accordingly. We suggest our customers to hasten their orders before the new round of price rising in the following days.
by CMB-CETA editor
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