Copper futures price on June 13 was 9,400 USD/ton, the lowest in nearly a month.
According to Trading Economics, the price of copper futures on June 13 was 9,400 USD/ton, down 1.3% from the previous day, the lowest in nearly a month.
In terms of spot prices last week, nickel fell 3.6% to 219,066 yuan per tonne (US$32,653 per tonne) at the end of the week. Silver fell 2.2% to 4,666 yuan/t ($695/mt) on June 10. Copper fell 0.8% to 72,716 yuan/mt ($10,838/mt).
Last week, the price of many types of steel in China also decreased. I-beam fell 3.7% to 4,826 yuan/tonne ($719/ton) at the end of the week. The price of rebar was at 4,766 yuan/ton ($710/ton) on June 10, down 0.6% from the beginning of the week.
Price movement of I-shaped steel. Source: Sunsirs
Hot rolled coil fell 0.3% to 4,906 yuan/ton ($731/ton) at the weekend.
Prices of many metals fell amid fears of slowing demand due to mass Covid-19 testing in Shanghai and an increase in the number of infections in Beijing. The new batch of Covid-19-19 testing in Shanghai comes just 10 days after China’s commercial centers lifted the blockade order.
Regarding the domestic market, steel prices remained unchanged compared to the end of last week. The price of CB240 and CB300 of Southern Steel is 17.36 million VND/ton and 17.76 million VND/ton. The price of these two types of steel of Hoa Phat in the North is 16.95 million VND/ton and 17.51 million VND/ton.
 Hoa Phat steel price movement until June 13. Source: Steel Online |
CB240 and D10 CB300 of Viet Duc are 16.82 million VND/ton and 17.47 million VND/ton.
Steel market recorded 5 consecutive declines from 11/5. The total reduction amounted to more than 2 million VND/ton. Specifically, Hoa Phat’s CB240 and CB300 in the North decreased by 2.04 million VND/ton and 1.58 million VND/ton, respectively, after five price cuts.
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