The international market situation in the first half of 2021 was turbulent because of the global inflation problem, raw material prices rose, including steel, and the market was stressed to buy quickly, Since mid-June, tinplate prices in China showed a downward trend, meanwhile steel prices in the US, in comparison, had a weak development.
The Russian steel market is suffering from the crisis caused by the major milestone by Europe and the United States. Sales to other markets have decreased by more than 25%.
World steel production is reduced by 10% to 20% due to the current crisis, the price of tinplate in China remains stable, and some manufacturers lowered their transaction prices to find new orders. This may occur during the second half of the year.
As for future expectations, for the remainder of the year, starting in the second half of the year, the Chinese market will reduce the supply of hot-rolled coils in accordance with the policy. Supply and demand are expected to gradually balance and the price is expected to be stable and gradually decrease.
Regarding tinplate prices as well as market conditions, since mid-June, steel prices in China generally showed a downward trend, and steel prices in the US. have also had a weak evolution.
Under the influence of multiple factors, such as anti-globalization, geopolitical deterioration, high indebtedness and low demand, there is still room for U.S. steel prices to fall in the second half of the year.
Since Russia was sanctioned by Europe and the United States, Russian steel suppliers have turned to the Asian market. Export prices of hot-rolled coils from Russia have fallen by more than 25% and those of rebar by more than 30%, with some traders selling below cost.
Some of Russia’s leading steel mills forecast that Russian steel production may decline by 10% to 20% this year. The overall price of tinplate in China remained stable, with some manufacturers quietly lowering their transaction prices to find orders. It is expected that in the second half of the year, the price of tinplate will not change much or may decrease slightly.
ALUMINUM AND COPPER PRICES TO FALL BY THE END OF THE YEAR�
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