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The cost of raw materials for steel production grows

The cost of raw materials for steel production grows

The cost of raw materials for the production of steel products continues to increase. Respectively, and metallurgists think about the increasing prices of goods produced of steel. The cost of the basic material — iron ore — has increased to 3-month high. Coking coal also passed this Cup. The price does exceed the critical threshold value of 100 USD/ton. Only one steel scrap still shows a relatively stable trend. Manufacturers use this product in electric furnaces. In early August has increased the spot cost of iron ore, amounting to USD 60/tonne. Relative to the beginning of June, the index increased by 25%. Coking coal had risen to 103 USD/ton. Short-term increase in cost is observed for the first time in approximately 16 months.

During the first half of 2016, there was a sharp growth of investments into main Chinese funds. That China today is the world’s largest manufacturer of steel products. This increase was justified by the implementation of government programs. In accordance with her investment was done in the railway sector and other infrastructure. After the rising cost of steel products has increased daily output of crude steel. Its volume in China in June to a record level. And increase China’s imported coking coal. To a certain extent limits the national output of steel. Chinese traders reported, what are the reserves of coking coal and iron ore.

American company Goldman Sachs focused on providing financial services. Its representatives noted that the volumes of exported Chinese products exceeds forecasts. Accordingly, increased consumption of iron ore. Hence, the increase in the cost of material from July to September almost 20%. Early forecast predpologala at 53 USD.

Is considered and the cost of ferrous scrap, which is used for steelmaking. Now in Japan the figure is about 200 USD/ton. This indicator since the middle of last month increased by 10%. Meanwhile, steelmakers that use electric arc furnaces, reduce production. The reason regular screening tests. The cost of products backed by revival of exports. Nippon Steel & Sumitomo Metal has produced an increased purchase of scrap, given the increased volumes.

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