China’s steelmaking raw material prices rose on June 18, 2021, boosted by record-high monthly crude steel production and strong demand.
On the Dalian exchange, the price of iron ore for September 2021 futures increased by 1% to 1,224 CNY (equivalent to 190.31 USD)/ton. Coking coal prices increased 2.3% to CNY 2,010/ton and coking coal prices increased 1.6% to CNY 2,754/ton.
BEIJING (Reuters) – China’s National Strategic Food Reserve said on June 16 it would start selling key industrial metals in government stockpiles amid the sharpest rise in producer prices in 13 years, causing a surge in producer prices. concerns about global inflation.
As the world’s largest importer of many industrial goods, China is using its influence to curb the sharp rise in global metal prices over the past 12 months. Previously, economic stimulus measures along with the resumption of economic activities in major countries around the world have spurred a wave of raw material purchases in China and many others.
This move by China is aimed at copper, aluminum and zinc markets. Metals will be sold in batches and through a public auction program for metal producers and processors.
On the Shanghai trading floor, the price of rebar 10/2021 trading on June 18 increased by 0.3% to 5,101 CNY/ton, the price of hot rolled coil increased by 0.3% to CNY 5,371/ton. The price of stainless steel for July 2021 futures fell 0.7% to 16,160 yen
