Steel prices affect every industry. In the mining industry, due to a temporary shortage in the wake of THE COVID-19 disruptions, the price of this global commodity has increase roughly from USD 750 per ton to USD 1.000 per ton reaching a historical peak increasing more than 40% since the beginning of the year.
The freight rates are also high due to the strong and continued peak in the ocean container demand, the overbooking of port hubs and many factors which contribute to this increase.
We hope that both, steel and freight prices, stabilize from the pandemic-induced slowdown in the next months.
At Onix Underground, our commitment with our clients as offering the best product quality and service fulfilling their needs at all times, is a priority and the most important thing for us. That is why, we will try to do our best to face this complicate situation effectively and being transparent at all times informing our clients of any progress or setback of this situation.