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Tel : 0086-0371-86172891
Recently, China S460Q Grade E steel Steel Corporation held a monthly inventory price meeting for November and decided to raise the price of steel products for November.
Zhonggang stated that the steel S460Q Grade E steel market is currently in an upward cycle. On a macro level, major economies around the world are simultaneously inclined towards monetary easing policies, boosting market confidence. The latest forecast from the Organization for Economic Cooperation and Development (OECD) predicts that the global economic growth rate will reach 3.2% in the next two years; In terms of raw materials, the price of iron ore has rebounded to 100-110 US dollars per ton, and the price of coal has exceeded 200 US dollars per ton, pushing up the production cost of steel; In terms of steel demand, the steel consumption of the auto industry in Taiwan, China's steel market is still at a relatively high level. In the first three quarters of this year, the cumulative sales of cars in Taiwan, China were 344000, down 1.6% year on year. The fourth quarter is the traditional peak season of the steel industry, which is expected to support the rise of steel prices.
Overall, the outlook for the steel S460Q Grade E steel market is positive and the recovery momentum is strengthened. Therefore, China Steel has raised the steel prices for November: hot-rolled coil (HRC) has increased by NTD 900-1200/ton (USD 28-37/ton) month on month, and cold-rolled coil (CRC) has increased by NTD 700/ton (USD 21/ton) month on month.
