Steel prices continue upward trajectory

by Jeremy

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Steel prices rose to historical highs in the week ended 16 April, 2021, in response to the global rise in steel prices.

Prices have gone up by ~59% y-o-y in the month (until April 16).

Crude steel production rose 19% y-o-y (7% m-o-m) to 9.7 mt in March. Steel consumption grew 41% y-o-y to 8.74 mt.

However, it declined 6% m-o-m in the month as companies looked to exports to benefit from strong global steel prices.

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