Steel prices have continued to rise due to strong demand from construction and manufacturing industries. This surge in demand has been driven by government stimulus packages and infrastructure spending in key markets such as China and the United States.
In addition to demand-side pressures, steel producers are also facing rising input costs, particularly for iron ore and coking coal. These raw materials make up a significant portion of the production cost for steel, and their price increases have put further pressure on margins.
Looking ahead, the steel industry will need to navigate these challenges while also addressing long-term issues such as decarbonization and sustainability. This will require significant investment in research and development to develop new technologies and processes that reduce emissions and improve efficiency.
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