Steel companies vie for price increase

The domestic steel market has continued to rise for nearly two months, and the recent rise in iron ore prices has further boosted the market's bullish sentiment. Under the influence of various factors, domestic steel companies began to sharply increase the ex-factory price of steel and revise the price adjustment frequency. According to the reporter's understanding, the price of many steel products has exceeded the high point of last year, and the soaring price of steel has caused many downstream steel companies to feel the cost pressure.
Wuhan Iron and Steel recently took the lead in announcing the steel price policy in May. In addition to 100 yuan per ton for cold-rolled coils, the major varieties such as hot-rolled and wire rods have all been raised by 500 yuan/ton. This is the fourth time that Wuhan Iron & Steel has raised prices for the fourth consecutive year. As a leading steel company, Wuhan Iron and Steel raised the price of steel prices also stimulated other domestic steel mills to follow up. Kunming Steel, Nanjing Steel, Heavy Steel, Liu Gang and other steel companies have raised prices. In addition, the frequency of price adjustments by steel mills has also been markedly accelerated, from monthly price adjustments to frequent price adjustments.
According to the reporter, after the continuous rise in this round, the prices of many steel varieties have already exceeded the levels of last year's highs. China United Steel statistics show that the price of 5.5mm hot coil in Shanghai market is currently 4560 yuan/ton, which is 260 yuan higher than the 4,300 yuan/ton in the 2009 peak, 1.0 cold plate is up 530 yuan/ton, and 20 in board and 1.0 galvanized respectively rose 480 yuan / ton and 70 yuan / ton.
Real estate industry: Do not dominate the cost of building materials In this round of rising steel prices, the price of building materials rose significantly. However, the increase in the price of building materials has little impact on the current real estate market.
There are many factors in the housing price, including land cost, construction and installation costs, taxes, macroeconomic situation and so on. Han Shitong, a real estate expert, told reporters that in the case of high prices, building materials prices do not dominate the cost of real estate. “Land price is the key factor,” he pointed out.
Appliance companies: Cost pressures will increase market conditions continue to make the prices of major steel products continue to rise, including household appliances steel hit a new high since 2009.
It is understood that the home appliance industry needs steel-based plate, and in the past six months, the absolute price increase of major home appliances steel prices over 500 yuan. It is reported that for every 10% increase in steel prices, the home appliance industry will increase production costs by about 3%.
Automobile manufacturers: Most afraid of steel ups and downs Since the first quarter, auto panel makers have increased the price of automotive steel. In general, steel accounts for more than half of the weight of automobiles. In addition to automobile plates, component manufacturers also use steel in large quantities.
"The most difficult to cope with is the ups and downs of steel." A car company official told the newspaper.

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