The main reasons for the recent increase in steel prices

There are several main reasons for the rise in steel prices:

Rising raw material costs: Iron ore and coke are the main raw materials for steel production. Recently, the price of iron ore in the international market has continued to rise, mainly due to tight supply and strong demand.

Global supply chain instability: Supply chain disruptions and rising transportation costs have led to increased steel production costs.

Strengthening of environmental protection policies: Governments have introduced more stringent environmental protection regulations, requiring steel companies to adopt more advanced environmental protection technologies, which has increased the operating costs of companies.

Market demand growth: With the global economic recovery, the demand for steel in industries such as construction, automobiles, and machinery manufacturing has increased significantly, and the imbalance between supply and demand has led to price increases.

These factors have worked together to lead to a significant increase in steel prices.