Major Steel Plate Products Market and Major Event Review 2021-2022

SHANGHAI, Mar 1 (SMM) –

• On March 11, 2022, Biden signed 1.9 trillion fiscal stimulus
• The Standing Committee of the State Council intensively mentioned that commodity prices have risen too fast
• In Q1-Q3, the three red lines policy strictly implemented the housing speculation
• The policy of resolutely reducing crude steel output was officially implemented after July 1, 2022, and a large number of steel mills were forced to limit the production
• Under the influence of the production restriction policy and the energy consumption control led to soaring coal prices and pushed up steel costs
• The three departments made a heavy blow to rectify the excessive rise of coal prices
• Crude steel output cut target completed, and steel mills resumed the production, stimulating iron ore prices to rise
• Shanghai is closed due to the pandemic, and many industrial chains were affected
• On May 5, 2022, the Federal Reserve raised interest rates by 50 basis points for the first time since 2000
• Starting from June 16, 2022, the US Federal Reserve raised interest rates by 75 basis points for three consecutive times
• On November 11, 2022, 16 supportive financial measures were released to stimulate real estate
• After the steel prices plummeted, steel mills concentrated on reducing production