Analysis of the influence of shipping blockage on stainless steel in Suez Canal
It has an impact on the stainless steel market. Looking back at the export data of stainless steel in the past five years, China’s stainless steel export to Europe is about 400000-700000 tons / year, accounting for 12-19% of China’s total annual stainless steel export, mainly including cold rolled coil, hot rolled coil, stainless steel pipe, stainless steel wire, etc. In March and April of previous years, the export volume of stainless steel to Europe was about 35000-50000 tons, accounting for about 13% of the total export volume.
According to the feedback of steel mills, although the main export areas of stainless steel of domestic steel mills are Southeast Asia, Japan and South Korea, many steel mills and foreign trade enterprises have exported products to some European countries. If this incident really takes a month to recover, although it can also avoid the place of the incident, the freight cost will increase significantly. It is better to choose to wait, which mainly affects the delivery time of foreign orders. The overall impact on the stainless steel market is limited.
