Steel prices today increased to 5,381 yuan / ton on the Shanghai Exchange. MEPS has raised its global crude stainless steel production forecast to 56.5 million tonnes for 2021, up 11% year-on-year.
Steel price today continues to increase
Steel price today delivered in January 2022 on the Shanghai Exchange increased by 98 yuan to 5,381 yuan / ton at the time of the survey at 9:30 am (Vietnam time).
| Type name | Period | September 3 | Difference from yesterday |
| Copper price | Delivered in October 2021 | 68.940 | +100 |
| Zinc price | Delivered in October 2021 | 22.235 | +50 |
| Nickel price | Delivered in October 2021 | 145.570 | -1.490 |
| Silver price | Delivery in December 2021 | 5.121 | -42 |
| Steel price | Delivered in January 2022 | 5.381 | +98 |
Futures price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
MEPS has raised its global crude stainless steel production forecast to 56.5 million tonnes for 2021, up 11% year-on-year. Higher-than-expected output in Indonesia’s first quarter and strong growth in China are supporting the increase in supply.
Iron ore chart at Shanghai exchange (Source: Shfe)
Accordingly, Indonesia’s stainless steel production is estimated at 1.03 million tons in the first quarter of this year, which is a record high for the country.
During the survey period, manufacturers ramped up shipments to Europe. Anti-dumping duties have also been applied to Indonesian cold-rolled steel products docked in Europe since May 2021.
In India, factories are expected to produce 3.9 million tons of stainless steel by 2021. In which, strong industrial demand from Europe has actively supported to stabilize export sales. exports in the first quarter of this country.
However, India’s position as the world’s second largest stainless steel producer is under threat. Indonesian producers are investing heavily in new capacity this year, with output at mills forecast to match that of Indian steelmakers.
Besides, annual output in China is expected to increase to 31.9 million tons, showing that efforts to limit steel production in the first half of the year have been ineffective. The government’s measures, aimed at limiting export volumes, are expected to reduce output in the remaining months of 2021.
Meanwhile, manufacturing figures in South Korea, Japan and Taiwan are expected to exceed records in 2020.
However, the market remains uncertain about the full impact of the industrial fire at Yieh Corp’s Kaohsiung factory. in Taiwan.
Many experts believe that the country’s output is unlikely to reach pre-pandemic levels this year, MEPS reported.
T&G International Joint Stock Company
Address: 352 Hue Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi
Hotline: 0345786803
Email: hrm@tginterjsc.com
Website: http://tginternationaljsc.com
