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Monthly steel market news (2022.05.01-2022.05.30)

1. USD currency:1 : 6.6468 on 2022-05-30 14:12 

The USD currency ups and downs in the whole month. In the earlier of May, it increase to the peak one, and then sharply decrease. On 20th to 27th around, it re-ups to the 6.75 However, it sharply decrease to 6.6468 today on 30th, and please see the sreenshot 2 - daily changes, which already down 0.5%. 


2. The steel cost is stably decrease now, which is a good time to place an order. 

The carbon steel cost has decreased than earlier of month, which is around US$15/ton. But the current steel raw material future cargo trends shows increase trend now. And the market forecast that maybe will rebound recently. Any firm needs, just contact with us ! 


3. The sea freight for partial countries 

By the market influence, the container sea freight has increased in partial countries with US$500 ~ 1000/container around. While most countries keeps stable level as well as its bulk freight trend. But because of Covid-19 influences, some of inland delivery cost increased, and Shanghai port is still not smoothly in delivery,which causes inland delivery cost ups. 

4.The impact of the epidemic gradually weakens, and the industrial added value can bottom out and rebound 

Since the beginning of this year, the Covid-19 outbreaks in many places in China, especially in some areas of Shanghai, had a great impact on industrial production and logistics in various places. With the active implementation of the "zero-clearing" policy across the country, it is expected that the most severe impact of the epidemic on industrial production has passed. At present, Shanghai has achieved remarkable results in the fight against the epidemic, and the number of newly infected people has continued to decline. Shanghai recently announced that it will fully restore the normal production from June 1 to mid-late this year. It is expected that Shanghai and some other provinces and cities across the country will increase production and efficiency in the rest of the year, so as to restore the growth. 

Edit by Vivian Zhang

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