Cost increases forced steel companies to raise prices, domestic steel market is now dilemma

After the Spring Festival holiday, the domestic steel market verified the inertia of the past law. Under the influence of the general trend, WISCO (600005.SH) replaced Baosteel Co., Ltd. (600019.SH) yesterday to introduce the steel product price policy in March. On the basis of February, The leading product per ton of steel is generally raised by 200~400 yuan.
Among them, for hot rolling, weathering steel and yoke steel are up by 200 yuan/ton; high-strength welded structural steel is up by 400 yuan/ton; other products are raised by 300 yuan/ton; now Q235 material 5.5mm×1500 hot coil is priced at 4520 yuan. / ton, SPHC material 3.0mm × 1250 hot coil ex-factory price is 4620 yuan / ton. The prices mentioned above are all excluding taxes and will be implemented from March 1st.
For the reason of price adjustment, Hu Yanping, a joint metal analyst, told the author that since December last year, the domestic steel market has acted as the mainstay, and the performance of the sheet has been eye-catching, and the price level has risen significantly. The current price of Shanghai hot coil is 4,800 yuan/ton, compared with the beginning of December last year. The increase of more than 500 yuan laid the foundation for steel mills to raise prices. At the same time, the increase in the price of iron ore and coke, which is the main raw fuel, has increased the production cost of steel mills and also supported steel mills to raise prices.
However, on the same day, plate products in some cities in China began to show signs of decline. “The post-holiday market demand is weak, coupled with the weakening of the electronic market. On February 14, the domestic steel market began to show an inflection point.” Lange Steel analyst Xu Liying told the author.

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