Overseas ASTM A387 grade 22 class 1 steel prices are still in the upward range

With the end of the New Year holidays in more overseas countries, the market has gradually resumed trading. Although the prices of certain steel products such as ASTM A387 grade 22 class 1 in Asia and the Commonwealth of Independent States have been adjusted due to the impact of holidays, the upward trend of prices of ASTM A387 grade 22 class 1 and so on steel products in Europe and the United States remains unchanged.

According to overseas news, the prices of ASTM A387 grade 22 class 1, hot-rolled, cold-rolled and galvanized steel sheets in the United States have reached new highs. At present, the price of hot rolled steel in the United States has risen by US $40 / short ton to US $1100 / short ton on a week-on-week basis, up 147.5% compared with the mid year increase in 2020. In terms of import and export, Vietnam's quotation for cold rolled steel coil to the United States is as high as US $1020 / short ton, which is significantly higher than China's FOB quotation for cold rolled steel coil (about US $760 / ton). In Asia, the price of hot rolled steel coil in India has maintained a rising trend for seven months. The leading steel mills have continuously raised the offer price, and the average increase in the week after new year's Day is US $30 / T compared with that before the festival.

At present, the tight supply and demand situation of ASTM A387 grade 22 class 1 and so on steel materials in the upstream and downstream steel industries of major overseas economies such as Europe and the United States has not been significantly improved. The local inventory market is very limited, and the delivery time is constantly extended. The recovery of the manufacturing industry, especially the automotive industry, has increased the demand for steel plate, and the price of ASTM A387 grade 22 class 1 and so on steel continues to rise.