Steel prices today fell to 4,417 yuan/ton on the Shanghai Exchange. Iron ore futures fell on concerns about COVID-19 restrictions in China and the impending low season for construction activity.
Steel prices today turned down
Steel price today delivered in May 2022 on the Shanghai Exchange fell 37 yuan to 4,417 yuan/ton at the time of the survey at 8:15 am (Vietnam time).
| Type name | Period | December 23 | Difference from previous transaction |
| Copper price | Delivered in February 2022 | 69.920 | +420 |
| Zinc price | Delivered in February 2022 | 24.480 | +670 |
| Nickel price | Delivered in February 2022 | 146.850 | +1.700 |
| Silver price | Delivered in July 2022 | 4.862 | +33 |
| Giá thép | Giao tháng May/2022 | 4.417 | -37 |
Futures trading price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
Iron ore futures on the Dalian Exchange (DCE) and the Singapore Exchange (SGX) fell on Wednesday (December 22), amid weakening sentiment on fears of restrictions due to COVID-19 in China and the coming low season for construction activity
Iron ore chart at Shanghai Exchange (Source: Shfe)
Specifically, the May 2022 iron ore contract, the most traded on China’s DCE Exchange, ended the daytime session 0.4% lower at 693.50 yuan/ton ( (). equivalent to 108.84 USD/ton), decreased after 4 gaining sessions.
Similarly, on the same day, the iron ore contract for delivery in January 2022, the most actively traded on the SGX, also fell 1.3% to 125.60 USD/ton.
China is maintaining a zero-tolerance policy for local COVID-19 cases, moving to quickly quell any outbreaks by imposing movement restrictions.
A case of COVID-19 forced Dongxing, a Chinese border city bordering Vietnam, to order people to stay at home from Wednesday and suspend the operation of public transport.
China is expected to follow this strict approach as Beijing prepares to host the Winter Olympic Games in February 2022.
Photo: Uma Steels
Despite China’s import stocks hitting a 3.5-year high, iron ore prices hit a multi-week high earlier this week, boosted by the prospect of stimulus next year. .
However, analysts warn that steel demand in China is set to weaken again in the coming cold days as construction activity begins to slow, and this could impact iron ore prices. , Reuters reported.
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