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Steel prices rose again by a large margin

Iron and steel enterprises actively increase production and operate at a high level in China. According to statistics, from January to November 2020, China's crude steel output was 96.11 million tons, with a year-on-year increase of 5.5%; in November, crude steel output increased by 8.4%; in the same period, China's steel production was 120.03 million tons, with a year-on-year increase of 7.0%; among them, the steel production in November increased by 10.8% year-on-year, and the average daily steel production in November rose by 2.3% month on month.

Driven by a number of factors, the steel price rose by a large margin again. As the end of the year, the construction intensity increased in November, the output of some steel consuming products reached a new high, and the direct export rose month on month, which increased the use of steel; the prices of iron ore, coke, scrap steel and other prices soared, significantly increasing the production cost of steel; in addition, the market expectations were optimistic, and speculative capital added fuel to the flames, so that steel prices at the end of the year appeared a larger range again rise.