March, 2016 Saw the Biggest Increase of The Steel Price in the Past Five Years


Last 3 days, the steel price went straight up. Last weekend, steel billet price of Henan Tangshan increased ¥240 per ton, and on Monday, most steel mills increase ¥200-¥300 per ton. On the morning of March 8, it went on increasing, and the Deformed Steel Bars and Hot-rolled Steel Plate of Shanghai Building Materials increased ¥120 per ton and ¥150 per ton, while the hor-rolled products in Fuzhou Market increased about ¥50 per ton.

“It is the most crazy increase since 2011.” Said Qiu Yuecheng, the analysts.

In 2015, the Steel Composite Index has decreased 20%. After the strong rebound recently, the Steel Composite Index has increased 5.42% to 94.28 month on month, which is a little higher than that last year.

As the steel price soaring, the trading volume began to recover. As Mysteel shows, the daily turnover is around 150000 tons, which up to 170000-200000 tons.