There is no end to the rise in steel prices

The situation on the steel market, unprecedented in recent decades, is causing a constant rise in prices, and it is not known how long this process may take, experts say.

On the one hand, prices are driven by growing demand, and on the other, by very large increases in the cost of raw materials, services and energy. As for steel from electric furnaces, in the coming years, prices may be affected by a sharp increase in demand for scrap metal. For more than 30 years, the steel market has not faced such high prices for rolled metal products, such more expensive raw materials.

Many countries have imposed restrictions on the export of scrap metal, which can be up to 100 percent. converted to steel with low CO2 emissions. The Chinese government wants to increase steel production from scrap metal in electric furnaces. Since the beginning of this year, the country, which produces most of the world's steel, is starting to import these raw materials, which will significantly increase the demand for scrap metal and its prices.