Zhejiang Dadi Steel Structure Co.,Ltd.

According to the report of Wall Street Journal, the steel and iron producers in the countries including the US and China are trying to slightly rise up the price and restarting the shutdown mills due to the low demand in the previous months. This phenomenon can be the early indication that the steel prices have reached to the bottom.

Allegheny Technologies Inc. with its head office located in Pittsburgh stated that it will increase the additional charges of silicon steel by 55% to ＄321/short ton (one short ton equals to 0.9 metric ton), and AK Steel HoldingCorp with its head office located in Ohio said it will increase the same from ＄10/short ton to ＄165.

Arcelor Mittal, the steel company with the largest output in the world, said it will reopen the wire rod mill in Georgetown County of South Carolina. Mittal closed down this factory and laid off 300 employees due to the weak market demand and low material price.

In Turkey, because the construction has been put on the development agenda, the hot-rolled plates have been increased by 4.5% to ＄460/ton. In Japan, an insider indicated on Tuesday that the steel market is expected to regain life before the middle of this year due to the stock drop and production cut.

In China, the major steel mills have successively announced to rise the prices of some products by 5%-25%. Baosteel and Anshan Iron&Steel have already risen the price of hot-rolled plates and Baosteel has also stated that it will increase the production of some of its factories soon.

Source: mysteel.com