In March China Steel Corporation (CSC) announced an average 5.83% increase in bar and wire rod April shipments and the second quarter shipment products of domestic sales in 2022.
Despite facing huge raw material cost pressure, in order to enhance the resilience of steel industry and maintain the competitiveness of downstream industries, CSC adheres to the modest and gradual pricing policy – hence the increase of 5.83%.
In 2021 Taiwan’s export performance ranked top ten in the world with total value of US$446.4 billion (approximately €423.27 billion). In January 2022, export orders maintained growth in twenty three consecutive months. As major economies gradually overcome the pandemic and propel investment and production momentum.
As steel demand turns positive, worldsteel forecasts that the global steel demand will increase to 1.896 billion tonnes in 2022. However, the Russia/Ukraine conflict has not only exacerbated geopolitical conflicts, but also pushed up the prices of bulk commodities. Both Russia and Ukraine are major players in the steel industry, with 100 million tonnes of crude steel output per year and more than 40 million tonnes of steel export, mainly to Europe and Asia. At present, the import and export trade of Russia’s steel industry has been severely hampered due to the sanctions imposed on Russia. Mariupol, the main city of Ukraine’s steel industry, is also deeply involved in the conflict, with steel mills such as Azovstal and Ilyich temporarily shut down.
International steel prices are expected to surge even more than last year, due to not only the entry of traditional peak season for downstream industries, but also the severe supply disturbance and record high bulk commodities costs.
Having spent a decade in the fastener industry experiencing every facet – from steel mills, fastener manufacturers, wholesalers, distributors, as well as machinery builders and plating + coating companies, Claire has developed an in-depth knowledge of all things fasteners.
Alongside visiting numerous companies, exhibitions and conferences around the world, Claire has also interviewed high profile figures – focusing on key topics impacting the sector and making sure readers stay up to date with the latest developments within the industry.
Don't have an account? Sign Up
Signing up to Fastener + Fixing Magazine enables you to manage your account details.
