The price of Chinese steel market also has a large fluctuation, recently, China’s eight steel varieties of steel per ton of average price rose 75%, once broke through 6600 yuan. As the world’s first major economy to recover from the epidemic, China’s domestic demand for steel is also very strong, to a certain extent, also promoted the gradual rise of international and domestic steel prices. In order to stabilize the domestic steel market, China Iron and Steel Industry Association once again. A few days ago, China Iron and Steel Association held a meeting to the iron and steel industry self-discipline
It proposed seven self-regulation initiatives to resist vicious competition and jointly maintain fair competition in the market. The proposal said the industry’s export strategy should be adjusted in line with the country’s latest policies to promote exports of high value-added products while fully guaranteeing domestic steel supplies.
Since last year’s unusual rise in international iron ore prices, Chinese authorities have been using administrative measures to control iron ore prices. In addition, when steel prices rose sharply, the China Iron and Steel Association called on domestic enterprises to avoid vicious competition.
At present, after the introduction of the CISA initiative, domestic steel supply will increase, steel demand has been eased, the price will decline, gradually leveling off. In the future, as the macro-economy slows down, China’s export tax rebate adjustment policy will gradually play a role, domestic supply will increase, and steel prices will gradually return to a reasonable range. In general, as more economic recovery continuously promote the development of global economy, the demand for steel will continue to rise, once China’s steel exports decline, can bring great influence to many countries, particularly in the United States, Germany, Korea, Vietnam, India and other five countries already in under the condition of shortage of “iron”, such a decision is likely to be a major blow for them, The shortage of steel is likely to get worse.