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Monthly steel market news (2022.08.01-2022.08.31)
2022-09-28 17:41
1. USD currency：1 : 6.9459 around on 2022-09-6 20：12 In most of months of 2022, the USD currency is relatively stable during 6.70 range. However, since mid of Aug, the USD currency break through the 6.90, and increasing 2% at least. Forecast: The RMB exchange rate may remain at a weak level in September The RMB exchange rate may fluctuate around 6.90 this month. Against the backdrop of an excessively strong dollar, it may be difficult for the exchange rate of the U.S. dollar and RMB to decline rapidly in the short term. China's economic expectations during September may still be the theme of the RMB exchange rate. We believe that the August economic data released during September may be improved. Affected by the disturbance of the epidemic in Jiangsu last August, the overall economic data in August was weak. Under the influence of this low base, this year's August data has a relatively favorable base effect. Overall, we predict that the USD/CNY exchange rate will be in the range of 6.80-7.00 in September, and the center will be 6.90 in the month.
2. The steel cost ups and downs The steel market needs is still not strong during Aug., and it keeps ups and downs within 50USD/Ton for the normal material on the whole month. But on the earlier of Sep., it was reduced again.
3. The sea freight keep decreased on Aug. On Aug., the container sea freight was sharply decreased in over 50% countries around the world. And it is unusual moment that the container freight is cheaper than bulk shipment in most of countries. Because the bulk freight was not down too much than container comparing to the container. By the consideration of USD currency, steel material cost and freight, it is the highlight to do importing after COVID-19. Warmly welcome your steel needs and we will try our best to create more potential chances for your business strategy !
1. USD currency：1 : 6.9459 around on 2022-09-6 20：12
In most of months of 2022, the USD currency is relatively stable during 6.70 range. However, since mid of Aug, the
USD currency break through the 6.90, and increasing 2% at least.
Forecast: The RMB exchange rate may remain at a weak level in September
The RMB exchange rate may fluctuate around 6.90 this month. Against the backdrop of an excessively strong
dollar, it may be difficult for the exchange rate of the U.S. dollar and RMB to decline rapidly in the short term.
China's economic expectations during September may still be the theme of the RMB exchange rate. We believe
that the August economic data released during September may be improved. Affected by the disturbance of the
epidemic in Jiangsu last August, the overall economic data in August was weak. Under the influence of this low
base, this year's August data has a relatively favorable base effect. Overall, we predict that the USD/CNY exchange
rate will be in the range of 6.80-7.00 in September, and the center will be 6.90 in the month.
2. The steel cost ups and downs
The steel market needs is still not strong during Aug., and it keeps ups and downs within 50USD/Ton for the
normal material on the whole month. But on the earlier of Sep., it was reduced again.
3. The sea freight keep decreased on Aug.
On Aug., the container sea freight was sharply decreased in over 50% countries around the world. And it is unusual
moment that the container freight is cheaper than bulk shipment in most of countries. Because the bulk freight
was not down too much than container comparing to the container.
By the consideration of USD currency, steel material cost and freight, it is the highlight to do importing after
COVID-19. Warmly welcome your steel needs and we will try our best to create more potential chances for your
business strategy !
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