Sky-High Steel Prices Leave China In A Precarious Position

The ongoing Russian-Ukraine conflict has impacted metal prices, including steel raw materials, and ferrous products prices. Metal prices, raw materials on the rise Iron ore and coking coal gained the most over the previous week. Meanwhile, steel prices, week over week gained at the Shanghai Futures Exchange. A gradual pickup in Chinese infrastructure demand and the Russia-Ukraine war offered price support. Russia and Ukraine are among the largest exporters of steel. A disruption in this supply chain saw buyers looking at other options. One of those…