The price of 62% ore imported into North China on June 22 was 109 USD/ton, down 6% from the previous day, the lowest in more than 6 months.
According to Fastmarkets MB, the price of 62% ore imported into North China on June 22 was 109 USD/ton, down 6% from the previous day, the lowest in more than 6 months.
According to Trading Economics, the price of 63.5% Fe ore imported into Tianjin port, China was $112/ton, down 4.3% from the previous day. The price of this iron ore is also the lowest in more than 6 months.
Commonwealth Bank of Australia analyst Vivek Dhar said that there are concerns in the market that China’s commitment to promote infrastructure investment is difficult to come true, especially in the context of the country’s major policy implementation. book “zero – Covid”.
The Covid-19 situation affected construction activities, dragging down demand as China continued to detect new infections in recent days. Disruption of construction activities due to heavy rains in some parts of China also resulted in large inventories of steel, prompting steel mills to shut down blast furnaces to cut losses.
Spot prices of many steel grades fell after a day of recovery. Hot rolled coil returned to a downtrend of 1.6% to 4,328 yuan/mt ($645/mt), after recovering slightly by nearly 1% on June 21, in a series of near-month declines.
Spot rebar also fell 0.6% and traded at 4,221 yuan/ton ($629/ton). On June 21, this face price recovered about 1% from the previous day after 3 consecutive months of decline.
Regarding non-ferrous metals, prices of many items decreased. Tin fell 3.7% to 236,260 yuan per tonne ($35,253 per ton). Nickel fell 2.8% to 206,300 yuan/ton ($30,784/mt). Copper fell nearly 1% to 68,181 yuan per tonne ($10.174 per ton). Silver also fell 0.8 percent to 4,646 yuan per tonne ($693 per ton).
Regarding the domestic market, on May 19, brands announced a reduction in steel prices. Accordingly, each ton of steel is reduced by more than 500,000 VND/ton, depending on the brand and type of steel. After 6 reductions, the price per ton of steel fell to more than 2.5 million dong/ton.
After June 19, the prices of all kinds of steel remained the same. Hoa Phat’s CB240 coil line in the North is at 16.65 million VND/ton, D10 CB300 rebar is priced at 17 million VND/ton.
 Diễn biến giá thép Hòa Phát tại miền Bắc. Nguồn: Steel Online |
With the Vietnam Italy steel brand, with its two products including CB240 coil currently at 16.51 million VND/ton, D10 CB300 is currently priced at 16.97 VND/ton. The above two types of steel of Viet Duc are 16.51 million VND/ton and 17.07 million VND/ton, respectively.
T&G Import-Export Joint Stock Company
Address: 352 Hue Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi
Hotline: 02473010868
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