Recovery of global steel demand drives steel price higher

With the slow recovery of national economy, the global demand for steel industry is gradually rising. But at this stage, because the production of steel is difficult to keep up with the demand, the global steel price is rising. From the variety point of view, the prices of long products and steel plates increased month on month, and the increase of flat products was greater than that of long products.

In terms of global regions, steel prices in North America, Europe and Asia have increased. In December 2020, the North American steel price index was 235.7 points, up 30.2 points, up 114.7%; the European steel price index was 193.6 points, up 33.65 points, up 21%; the Asian steel price index was 245.9 points, up 20.35 points, up 9.0%.

However, after 2021, the Asian steel price index will fall slightly, while the North American and European steel price indexes will continue to rise. The reason is that the global economy is gradually recovering, the pattern of supply and demand is booming, the rise of overseas steel output is suppressing the export price of steel in Asia. At the same time, the Asian region headed by China has entered the stage of accumulating stock before the festival, the downstream demand is weak, and the internal and external influence has caused the steel price index to fall slightly.