Notice On Recent Iron Raw Material Price

Recently, the domestic iron raw material market has experienced drastic fluctuations. The prices of all types of main and auxiliary iron materials have risen sharply and continuously this week, showing a strong upward trend. To ensure the smooth progress of our cooperation, we hereby update you on the latest market conditions and relevant order arrangements.

The substantial price increase of iron raw materials is driven by multiple market factors. First, the prices of upstream core steelmaking raw materials including iron ore, coking coal and coke have kept rising, and the upward trend of source material prices has driven the synchronous growth of overall iron material prices. Second, the demand in downstream industries such as infrastructure, machinery manufacturing and hardware processing continues to recover. The concentrated release of market procurement demand has led to tight spot supply of raw materials, further pushing up market prices steadily. Third, the overall commodity market is on the rise, and the strong market bullish sentiment has further expanded the increase of iron raw material prices.

In view of the current market situation, iron raw material prices will remain volatile at a high level and are likely to keep rising in the follow-up period. To help you avoid higher procurement costs caused by subsequent price increases, we would like to kindly remind you that all pending and unconfirmed orders will be re-quoted based on the real-time raw material market prices.

We urge you to arrange your procurement plans in advance. If you have any stock preparation or ordering demands recently, please confirm and lock your orders as soon as possible. Early order confirmation allows you to secure the current relatively stable market price and effectively prevent cost increases due to further raw material price hikes.

Our company will always adhere to strict quality standards, fully guarantee product quality and delivery schedule, and repay your trust with reliable and high-quality services. We sincerely appreciate your understanding and support for the adjustments brought by market fluctuations. We look forward to continuing to cooperate and achieve win-win results with all partners.

Hereby notified.