Under Pressure! Steel Margins On Course To Contract By 2022
Recovering from the new covid-19 pandemic and pent-up demand has led to a surge in steel prices at a faster rate than raw materials, thus bringing huge profits to steelmakers.
In 2021, the gap between Fastmarkets' steel hot-rolled coil index, fob mill US and steel scrap No.1 busheling, index, delivered Midwest mill has widened significantly. As of mid-June, the average profit so far in the year was US $936.18 per ton; In 2020, the average gap was USD 354.32 per ton, and the profit margin in 2015 was only USD 257.39 per ton.
U.S. steel producers have been struggling to keep up with demand because section 232 tariffs and quotas implemented in 2018 make maritime suppliers uncompetitive. At the same time, the green agenda has become the focus of attention. It has created the demand for low carbon steel, which in turn has created the demand for ore metals and more and more waste. The combination of these factors enables local steel mills to determine prices, especially for flat steel used in manufacturing applications.
Short Comments: A surge in steel prices at a faster rate than raw materials, thus bringing huge profits to steelmakers while resulting in a steep price rise on steel products such as its packaging, steel drum closures.
Sudden! Fire Broke Out in Barrel Factory in Wenzhou, ChinaJuly 1, 2022At about 12:10 p.m. on August 11, a netizen said that a plant at the intersection of Longgang Dongcheng Road and Rainbow Avenue had a fire, and thick smoke obscured the sky and the sun at the scene! I...view
Drum ClosureJune 5, 2023Closures are devices and techniques used to close or seal a bottle, jug, jar, tube, can, etc. Drum closures are used to close and seal drum or barrel. Closures can be a cap, cover, lid, plug, etc. Dru...view
Spot Market For CokeJuly 1, 2022Coke: April 8, the domestic coke market mainstream temporarily stable operation. On the supply side, the two coke enterprises in Luliang area have stopped producing coke recently, and the speculative ...view