Yesterday, my steel network announced that last week's domestic steel price composite index was 172.6 points, up 0.9% from the previous week. The position exceeded the high point of domestic steel prices in April last year, setting a new high for more than a year. Zhonglian Steel professionals said that domestic steel prices have fallen into a vicious circle of cost-driven. China's steel prices rose sharply at the beginning of last year, reached a high point in April last year, then fell, and began to rebound after reaching a low in July last year. Domestic steel prices have continued to rise slightly this year. Last week, the price of flat steel such as cold and hot rolled steel continued to rise, and the price index approached the high point of April last year. The prices of long products such as rebar ( 4967 , 38.00 , 0.77% ) have already surpassed last year's high. In the end, the domestic comprehensive price index surpassed the high point of April last year and reached a record high. It is worth noting that my steel network monitoring shows that due to the cold weather and the year-end, there is almost no demand in the market, and the transaction is light, which does not support the continued rise in market prices. A professional who did not want to be named by Zhonglian Steel said that the leading factor in the current market price increase is the cost, and the market price continues to rise passively. He said that domestic steel prices have entered a vicious circle. This vicious circle is that the price of iron ore has risen first, causing steel mills to be forced to raise prices due to rising costs, and the market price has risen; while iron ore giants have seen steel prices rise and then raise iron ore prices. Under the vicious circle, although steel prices have risen, steel mill profits have not increased, and domestic downstream companies have taken on the rise in overseas commodity prices.
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