From the fourth quarter of 2020, China's steel prices of galvanized steel coils have continued to hit new highs in recent years, especially the price increases crazily in December.

The recent increase in prices of galvanized steel coils has also surprised steel mills. Considering that raw material prices and spot market prices exceeded futures order prices, the second price adjustment was released after the first one had been just released, and the adjustment range was significantly higher than the first time.

According to data released by China’s National Bureau of Statistics (NBS), the output of home appliances and automobiles showed an increasing trend this November, which was driving the demand for steel. After the rapid rise in steel price, there hasn’t been a significant decline so far.