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Russia-Ukraine Conflict Spurs Steel Price up 22% and Taiwan CSC Also Intends to up the Price
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2022-03-18
The impact of the Russia-Ukraine war falls on the two major steel manufacturing countries. The European steel price surged 22% to 1,160 euros (USD 1,257) per ton, a new high over the last 8 months. ArcelorMittal and Metinvest Holding, two steelmakers in Ukraine, are forced to stop production because of the war. Ukraine is one of the top 5 steel manufacturing countries exporting to the EU. A halt in Ukraine's supply will further tense up the steel market.
On another note, the Russian steelmakers are also having a difficult time exporting to the EU. After a sanction laid on the Russian metal mogul Alexei Mordashov, his steel company Severstal PJSC stopped sales to Europe which is his largest market for export.
The heightened metal price as a result of the war could bring greater harm to manufacturers and constructors who have been through the record-breaking metal price hike last year. If the rise in energy price leads to further reduction in production from European steelmakers, it will worsen supply to the market.
On the Taiwanese domestic wire rod price for Q2, Taiwan CSC said it is collecting global intelligence on wire rod price trend. The company will evaluate inventory status across the market, downstream clients' competitiveness, price condition and other factors to mildly raise the price.
On another note, the Russian steelmakers are also having a difficult time exporting to the EU. After a sanction laid on the Russian metal mogul Alexei Mordashov, his steel company Severstal PJSC stopped sales to Europe which is his largest market for export.
The heightened metal price as a result of the war could bring greater harm to manufacturers and constructors who have been through the record-breaking metal price hike last year. If the rise in energy price leads to further reduction in production from European steelmakers, it will worsen supply to the market.
On the Taiwanese domestic wire rod price for Q2, Taiwan CSC said it is collecting global intelligence on wire rod price trend. The company will evaluate inventory status across the market, downstream clients' competitiveness, price condition and other factors to mildly raise the price.
俄烏戰爭
鋼鐵價格
成本上漲
中鋼跟進
Russian-Ukraine War
steel price hike
Taiwan CSC
price adjustment
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