Why China's steel prices continue to rise

Since the beginning of this year, China's main steel industry has continued to recover, driving a significant growth in steel demand. In the first quarter, the actual steel consumption of the main steel industry increased by 47%; The apparent consumption of crude steel in China was 258.96 million tons, a year-on-year increase of 15.3%.

Steel prices in China's domestic market kept rising in the first quarter. By the end of March, China's steel price index rose to 136.28 points, up 37.37% year on year. Since the beginning of this year, domestic steel prices have continued to rise for extremely complex reasons. On the one hand, it is driven by demand; on the other hand, it is driven by the sharp rise in the price of imported iron ore; at the same time, it is also affected by the recovery of the international market and the general rise in commodity prices. The next step is to increase the development and mining of iron ore at home and abroad, and improve the resource guarantee capacity of iron and steel industry.