Steel prices today fell to 4,631 yuan / ton on the Shanghai Exchange. The city of Tangshan (China) has ordered to limit steel output from October 28 to tackle worsening air quality.
Steel prices today go down. Steel price today January 2022 delivery on the Shanghai Exchange decreased by 59 yuan to 4,631 yuan/ton at the time of the survey at 9:00 am (Vietnam time).
| Type name | Period | November 1st | Difference from previous transaction |
| Copper price | Delivery in December 2021 | 70.090 | -710 |
| Zinc price | Delivery in December 2021 | 24.225 | +545 |
| Nickel price | Delivery in December 2021 | 145.120 | +50 |
| Silver price | Delivery in December 2021 | 4.863 | -43 |
| Steel price | Delivered in January 2022 | 4.631 | -59 |
Futures price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
The city of Tangshan, China’s largest steel production hub, ordered steel output curbs from October 28 to tackle worsening air quality, forcing about 19,000 tonnes of daily capacity to be shut down. cut in about a week.
Iron ore chart at Shanghai exchange (Source: Shfe)
Industry sources said that the Tangshan city government had asked local steelmakers to limit the operation of sintering and pellet mills and reduce the use of iron-smelting capacity. and steel.
Accordingly, 6 blast furnaces, with a total capacity of 6.9 million tons/year, will be suspended for this time, and the production reduction period is expected to last for a week. Restrictions will be lifted once air quality improves.
However, some market sources said that the negative impact on the overall steel output of Duong Son is relatively small, as the utilization of iron and steel capacity of this steel production center has decreased significantly. due to previous government orders.
Photo: North Shore Steel
In the second quarter of 2021, the average utilization rate of iron and steel production capacity in Tangshan fell to about 60% following the city government’s order to tackle air pollution. The cut increased to about 65% in July.
Data from the Bureau of Statistics shows that Tangshan’s steel output in the first eight months of 2021 reached 84.76 million tons, equivalent to 348,800 tons per day, down 11% compared to the same period last year.
Market participants say that regardless of any further steel production cuts in the next few months due to the policy of curbing carbon emissions, iron ore prices or power shortages are unlikely to be greater. current levels, S&P Global Platts reported.
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