Why steel furniture prices rise so much in 2021?

Currently CRS prices climb to 12-year high, the same for our products of steel filing cabinets, locker, racks and tables.

Steel furniture price is deeply influenced by steel sheet price. All of our steel cabinets are made of CRS (cold rolling steel sheet) painted with epoxy powder.

Why is steel so expensive right now? There are multiple reasons. Steel prices can be attributed to various constantly changing factors, such as:

Raw material costs: Because iron ore is a major steel component, its cost directly affects steel prices. Raw iron ore price rises more than 20% during past 30 days, after hug rising of 25% by end of 2020.

Supply and demand: The recovery in end-user demand has accelerated in March after it became apparent that life and economics have back to normal. Especially during March after CNY holiday, there are huge demand for steel for manufacturers.

Emissions control policy: Handan city, the second steel hub in Hebei province, had called on steel mills to implement emissions reduction measures by April 30 and stick to them until the end of the second quarter, according to domestic news reports on Thursday.

Also epoxy powder prices rise more than 50% since end of 2020, together with accessories and carton box.

We. Luoyang Bright Office Furniture, hope for stable market price to grow bigger with our valued customers, therefore, we are trying every effort to work our customers best solutions to successfully sustain and enlarge market during such situation. We are 24 hrs plus 7 days on line, waiting to talk with you.