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Iron ore prices have soared since December, driven by a combination of accelerating production by overseas steelmakers, tight supply and demand due to a slowdown in shipments from foreign ports, and expectations that the capital market will rally. Iron ore prices are estimated to have risen 60 per cent since 2020.

For steel prices in 2020, senior industry analyst Wang Jianhua summed up as "climbing over the hill", that is, the first consecutive fall in April, after the consecutive rise in July. Among them, the cold rolled price index hit a new high since March 19, 2013, iron ore hit a new high since January 14, 2014, coke prices rose in the second half of the year. However, prices of seamless pipes closely related to oil, stainless steel closely related to living consumption and silicon and manganese alloy with high inventories are depressed, and the average price of main coking coal in Luliang fell by about 15%. Overall, manufacturing steel prices with stage elasticity is stronger than construction steel prices.

In 2020, due to the strong demand, the increase in cost, and the impact of the epidemic, China's steel market prices first suppressed and then increased, shocks and upward. The above factors are expected to continue to exist in 2021, and due to the outstanding uncertainty, steel prices high wide shock.