The recent strong performance of global steel prices is mainly due to the continued recovery of the global economy and the gradual increase in steel demand. At the same time, the problem of excess global steel production capacity began to be alleviated, leading to a reduction in output and a gradual balance between supply and demand in the market. In addition, some countries impose restrictions on steel imports, which also keeps domestic steel prices stable. However, there are still uncertainties in the future steel price trend. On the one hand, the epidemic still exists, and the recovery of the global economy may be affected to a certain extent; on the other hand, factors such as rising raw material prices and energy costs may also lead to rising steel prices. Therefore, it is recommended that when investing or purchasing steel products, it is necessary to pay close attention to the global economy and the price dynamics of raw materials, and do a good job in risk management.