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According to the market monitoring released by the Ministry of Commerce's “Business Forecast,†the average domestic steel price in May was 6,186 yuan per ton, up 4.69% from April. Among them, wire rod rose 8.84%, sheet metal rose 3.25%, pipe and profile rose 4.92%.
According to the analysis of the Ministry of Commerce, the increase in production costs and the high price of international steel prices jointly support the rise in domestic steel prices.
The price of coking coal-based fuels has been rising recently.
At the same time, the international steel prices continue to rise, creating upward pressure on the domestic market. In late May, the CRU International Steel Index stood at 268 points, up 13.08% from the end of April.
The Ministry of Commerce anticipates that although the factors supporting the rise in domestic steel prices still remain, taking into account the limited bearing capacity of downstream steel companies, there is little room for future steel price rises.
According to the analysis of the Ministry of Commerce, the increase in production costs and the high price of international steel prices jointly support the rise in domestic steel prices.
The price of coking coal-based fuels has been rising recently.
At the same time, the international steel prices continue to rise, creating upward pressure on the domestic market. In late May, the CRU International Steel Index stood at 268 points, up 13.08% from the end of April.
The Ministry of Commerce anticipates that although the factors supporting the rise in domestic steel prices still remain, taking into account the limited bearing capacity of downstream steel companies, there is little room for future steel price rises.
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