The main factors affecting the fluctuation of steel prices in various countries

Global economic conditions: Economic growth is usually accompanied by an expansion of construction and manufacturing, which increases demand for steel. A recession or global financial crisis, on the other hand, may lead to a drop in demand and, consequently, a drop in prices.

Supply and demand: Changes in supply, such as the development of new mines, improvements in production technology, or policy adjustments in major producing countries, may affect the global supply of steel. On the demand side, factors such as the industrialization process in emerging markets and environmental protection policies restricting energy-intensive industries may also affect prices.

Raw material costs: Fluctuations in the prices of raw materials such as iron ore and coke directly affect the production costs of steel. Rising iron ore prices lead to higher steel production costs, which in turn pushes up prices.

Energy prices: A large amount of energy is required in the steel production process, especially electricity and natural gas. Rising energy prices increase the production costs of steel, which in turn affects the final price.

Policies and regulations: Environmental policies, trade policies, and industry norms of various governments may have a profound impact on the steel industry. For example, the strengthening of environmental regulations may lead to production cuts or closures of some highly polluting steel companies, thereby reducing supply and pushing up prices.