High raw material prices & Turkey’s earthquake make steel mills maintain high prices
Time:Mon, 20 Feb 2023 09:05:31 +0800
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The iron ore price kept strengthening this week. On February 17, the iron ore price at Dalian Commodity Exchange closed at CNY 889.5/ton, which hit a record high since June 14, 2022. In addition, the international iron ore price on February 17 went up to US$127.5/ton. The global coal price increased as well.
High raw material prices and the earthquake in Turkey made the global steel mill raise their domestic and export prices. Market participants indicated that it would be hard for steel mills to reduce steel prices in the short term.
