Since the pandemic, civils’ consumer attitudes are influenced, world economy becomes negative. Early in April, war between Russia and Ukraine deepened this impact.
For the steel plants, results are serious. Steel mills close or cut production capacity. There are multiply reasons for different zones.
Firstly, gas prices soar in United Stats and Europe. Producing cost is rising, but prices for steel products depend on market demands, it’s difficult to rise,especially ferro-alloy and crude steel.
Secondly, market demands become weaker and weaker. Generally policies of motivating people to invest property sectors works when economy situation is weak in China. But this Once-sizzling Property Market begins to cool under COVID lockdowns.
Due to reasons above, since beginning of 2022, price for Iron Ore and steel products keeps decreasing. Price for Iron ore is estimated to be less than 100 USD/Ton. To avoid more and more loss,some steel plants begin to stop Blast furnace, do repairing and maintenance.
As supplier of refractory materials to steel plants, Long Keter react positively.
Firstly we keep producing and increase storage of refractory raw materials including bauxite, tabular alumina and white fused alumina; secondly, we ask professional ISO team to do strict inspection of our present management system and quality inspection system, do maintenance to equipment; Thirdly we do training to our workers, especially young workers, about advanced producing process and digital controlling equipment.
Long Keter is always dedicated to supply great industrial solutions to clients all around the world! We hope to support our steel plants clients more, to pass this hard time together!