This week, the pressure on supply and demand in China’s domestic steel market has increased, and demand continued to be weak,
After the middle of June, a number of shipping companies announced the increase in freight rates! Asia and Europe freight rose to $20,000, a 10-fold increase over the same period!
Global shipping giant Maersk said in an earnings call in May that it had increased its capital expenditure budget for 2021-2022 to $7 billion from $4.5 billion to $5.5 billion, some of which would go to adding containers.
But other issues such as port congestion, navigation delays, capacity imbalances, especially from Asia, and inland delays, combined with continued strong demand for imports from the Americas, could lead to higher container rates.
A number of shipping companies, including Herberot, MSC, COSCO Shipping, Matson and Kamihara, have announced a new round of fee increase notices starting from mid-June.
Herberot has announced a substantial increase in freight from Asia to North America from June 15th, in which small containers will increase by USD2400 and large containers by USD3000.
MSC has informed that starting July 1st, Mediterranean Shipping will impose GRI on all shipments to the US and Canada at the rate of USD2400/3000/3798 per 20’/40’/45′.
COSCO Shipping Latest Price Increase Notice in Europe and Mediterranean Area, USD800/1600.
The current situation of China’s domestic steel market this week: Due to the increasing downward pressure on the domestic economy and
This week, China’s domestic high temperature, and affected by the off-season of the steel market, the demand for steel has shrunk,
This week, the output of China’s five major types of steel was 8.9713 million tons, an increase of 140,300 tons from
The fundamentals of supply and demand in China’s steel market further improved this week. The sharp reduction in production by steel
The domestic steel market is weak in supply and demand this week, and manufacturers continue to choose to cut prices to
At present, the congestion of container ports is becoming increasingly serious on all continents. Asia: due to the continuous epidemic and seasonal
Recently, food and energy prices have continued to soar due to inflation, but wages are far from keeping up. From Korean