Steel News

We strive to let you one step ahead of the market.

Strong economy in China & US supports international short-term steel prices at high level

17 Mar 2023 17:07 reported by Stanley Wang

A A A
After China adopted a full reopening policy due to the eased Covid-19 epidemic, China’s economy recovered acceleratedly, which increased steel demand.

On March 10, China’s main steel inventories totaled 16.16 million tons, decreasing by about 8.7% year on year, showing a recovery in the economy.

In February, the US nonfarm payrolls increased by 311,000, higher than the estimate of 205,000. The situation showed that the US economic outlook is resuming strongly.

China’s Baosteel and Angang Steel raised their coil and flat product prices for April. On March 9, the US hot-rolled ex-works price index also hiked. Global iron ore and scrap prices maintained high. Because the top two economies are strong, international steel prices would be on the high side in the short term.

Back to Steel News

Related News

SDI expects North American steel consumer demand to increase this year

  • Industry activities
  • 25 Apr 2024 16:57

India's RINL faces coking coal shortage crisis

  • Industry activities
  • 25 Apr 2024 16:36

CSC's success with HBI injection and AI technology

  • Industry activities
  • 24 Apr 2024 14:51

British Steel invests in mobile plant fleet

  • Industry activities
  • 24 Apr 2024 14:47

Salzgitter signs preliminary hydrogen supply deal with Uniper

  • Industry activities
  • 24 Apr 2024 14:46

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 2,795.00
  • 2,816.50
  • Aluminum
  • 2,585.00
  • 2,598.00
  • Copper
  • 9,670.00
  • 9,784.00
  • Nickel
  • 18,980.00
  • 19,150.00

Learn more

Coil Exchange Center

  • 2B Coil-May
  • 2,460
  • 2,320
  • NO1 Coil-May
  • 2,430
  • 2,290
  • 2B Coil-May
  • 2,460
  • 2,320
  • NO1 Coil-May
  • 2,430
  • 2,290

Learn more