According to MEPS International, steel prices rose for the fourth month in a row in April. MEPS analysts say global steel prices rose 9.2 percent in April, returning to their September levels last year. In Europe, the growth was even 13.4 percent.
Prices in Asia rose 8.6 percent. The increase was made possible by the consistent growth in prices of Chinese steel producers, both for the domestic market and for export. This made it possible to increase sales of products to managers in Russia, EU countries and the USA, which necessitates the development of the sales department. How to Hire Sales Managers in an ever-changing market, business trainings for the sales department help.
For example, Chinese companies are now focusing on the local market, where prices are higher, although exports rose 23 percent in February. Chinese manufacturers have provided an opportunity to increase revenues, so the surplus in the local market is not decreasing. Higher prices for Chinese exporters increase the chances of European and American manufacturers and distributors, whose offerings are becoming more competitive.
American factories raised prices by 6.7 percent and also increased capacity utilization from 60 percent to 72 percent. However, unattractive import duties and limited access to the US market can also cause problems with the availability of goods. Distributors point out that cold-rolled coils will be worth their weight in gold. There is also no galvanized sheet metal available.
Sales managers in the US say that if prices continue to rise, they will look for imports from sources that are not subject to anti-dumping duties. The flat steel market in Europe is also affected by anti-dumping duties, but to a lesser extent, which gives the impression of a reduction in supply. MEPS analysts suggest that without a dramatic change in the amount of demand, the price increase this year will be a short-lived phenomenon that will disappear later.
