The price of stainless steel for delivery in April 2022 decreased by 12% to 19,700 CNY/ton. Rebar price fell 0.4% to 4,926 CNY/ton. Hot rolled coil price fell 0.7% to 5,126 CNY/ton.
China’s stainless steel prices fell 12% on March 10, 2022 after the Shanghai Futures Exchange halted trading of some nickel contracts, starting from the night trading session on March 9, 2022 to check. control price volatility after nickel price reached its bullish trading limit for three consecutive days.
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China suspends nickel trading to control price volatility
On the Shanghai exchange, the price of stainless steel delivered in April 2022 fell 12% to 19,700 CNY (equivalent to 3,116.84 USD)/ton. Construction rebar price fell 0.4% to CNY 4,926/ton. Prices of hot rolled coil used in automobiles and home appliances fell 0.7 percent to CNY 5,126 per tonne.
Spot prices of 62%Fe iron ore to China fell by $2.50 to $160.50 a tonne, consulting firm SteelHome said.
On the Dalian Commodity Exchange, prices of raw materials for steel production fell. Iron ore futures fell 2.5% to CNY 814/ton, after falling 8.8% in the previous session. Coke price fell 1.5% to CNY 3,058/ton and coking coal for delivery then decreased 1.3% to 3,724 CNY/ton.
T&G International Joint Stock Company
Address: 352 Hue Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi
Hotline: 0345786803
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