Increasing steel prices could threaten a range of downstream industries where steel is an essential raw material, including construction, home appliances, cars and machinery. Photo: Xinhua
China’s steel prices spike on record raw material costs, raising inflation fears
- Nearly 100 Chinese steelmakers adjusted their prices upwards on Monday amid record costs for raw materials like iron ore
- Although the effect on overall inflation is not yet clear, the spike in steel prices could threaten a range of downstream industries
Increasing steel prices could threaten a range of downstream industries where steel is an essential raw material, including construction, home appliances, cars and machinery. Photo: Xinhua
