In Europe, there have been increasing media reports of longer and longer lead times at steel mills and serious delays in the delivery of steel already ordered. For example, andreas Schneider, a well-known steel market analyst, said: "The changes in the steel market are getting crazier and crazier. Steel demand in Germany is at its lowest level in 11 years this year. Galvanized sheet and cold rolled coil are most affected. Several local steelmakers are fully booked through March, according to MEPS, a leading firm.
The reasons for this situation can be summarized as follows:
1. Since the summer, demand in some parts of the steel market, particularly in carmaking, has recovered faster than many expected. In addition, many companies are replenishing previously reduced inventories of materials. By contrast, blast furnace steel production, related to thin plates, is only very slowly getting back on track. MEPS reports that production is shifting from other applications to the automotive industry. Since only a very low percentage of world steel production is used for drum manufacturing, the shift will also affect drum production.
Steel prices in Asia have been much higher than in Europe for much of this year, driven by the strong Chinese market. Combined with import restrictions imposed by the European Union, imports from third countries have not declined significantly this year.
This development has led to high prices for raw materials. Iron ore prices, in particular, have reached six-year highs.
Given tight supply and the sharp rise in spot market prices in recent months, the risk of a significant rise in contract prices for sheet steel products next year appears to be emerging. Professional services are already reporting manufacturers' price announcements. It remains to be seen how much of this apparent price risk will affect the steel drum industry, given that the current increasing restrictions related to corona-disease may once again dampen demand.
Short comments: this news indicates that the rising trend of the steel sheet price, the best way to prevent the lost is to arrange the purchasing plans of drum closures in advance.
Matters Needing Attention In The Use Of Iron DrumsJuly 4, 2022While making great efforts to innovate, iron drum manufacturers have also discovered many incorrect operation methods, which are not conducive to the long-term use of iron products. Let’s take a look...view
National Sampling Of Product Quality Officially Launched With Steel Barrel Product As Key ObjectJuly 1, 2022On July 16, the General Administration of market supervision held a "double random" on-site activity of national supervision and random inspection of product quality in 2021 in Beijing to de...viewHow To Reduce The Mold Cost Of Steel Drum Production From The Design Link?July 1, 2022The cost of the mold is mainly composed of the following parts: material costs, design fees, processing fees (including commissioning fees), packaging fees and shipping fees, taxes, and other expenses...view
The Second Green Packaging Innovation Application Forum And Exhibition Coming in DecemberJune 30, 2022With China's "double carbon" goal, policy advocacy of circular economy and green packaging and the continuous strengthening of consumers' awareness of environmental protection, the p...view
The United States Has Launched An Anti-dumping Investigation Into British Cold-rolled RollsJuly 1, 2022The US Department of Commerce has identified preliminary dumping margins for a UK exporter of cold-rolled coil, Kallanish learns from the Federal Register.Liberty Performance Steels is alleged to have...viewWasherJuly 11, 20231. The definition and types of washer Washer , also known as O-ring, is a circular section of the sealing element, the material is usually made of rubber, silicone rubber, fluorine rubber and other po...view
EN
ko 
fr 
de 
es 
it 
ru 
pt 
ar 
vi 
th 
