Steel prices today fell to 4,313 yuan / ton on the Shanghai Exchange. The Indian steel industry has bounced back after a long period of being hit hard by the COVID-19 pandemic.
Steel prices continue to fall today.
Today’s steel price for delivery in May 2022 on the Shanghai Exchange fell 20 yuan to 4,313 yuan/ton at the time of the survey at 9:00 am (Vietnam time).
| Tên loại | Kỳ hạn | Ngày 10/12 | Chênh lệch so với giao dịch trước đó |
| Giá đồng | Giao tháng 1/2022 | 69.490 | -210 |
| Giá kẽm | Giao tháng 1/2022 | 23.530 | +100 |
| Giá niken | Giao tháng 2/2022 | 145.880 | -1.950 |
| Giá bạc | Giao tháng 6/2022 | 4.652 | -52 |
| Giá thép | Giao tháng 5/2022 | 4.313 | -20 |
Futures trading price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
Despite being hit by the stagnation of construction activities due to COVID-19 for a year, the Indian steel industry has bounced back and has reported 25.6% growth in crude steel production in the last 8 years. first month of 2021.
Iron ore chart at Shanghai Exchange (Source: Shfe)
According to government data, the country’s crude steel output reached 77.74 million tons in the January-August 2021 period, up 25.6 percent year-on-year.
Along with higher output, India’s steel exports in FY 2022 are also expected to surpass FY 2021, according to Infomerics Valuation and Rating report.
Of which, exports have surpassed 70% of the level of fiscal year 2021. On the other hand, imports are expected to maintain a downward trend. This is a sign that the country is moving forward in pursuit of self-sufficiency.
Despite the border tension with China, the Indian steel industry has seen a steady flow of trade with the country. Exports to China account for a value of Rs 16,369 crore of the total Rs 19,267 crore exports of India.
Photo: TA TRADING
Currently, India is the third largest steel pipe production center in the world and tubular steel accounts for 8% to 10% of steel consumption.
India’s steel industry contributes about 1.5% to GDP and is one of the core industries forming the “backbone” of the economy, providing jobs for about 25,000 people through direct and indirect forms. next.
With the abundance of iron ore, coal and many other raw materials required for the production of iron and steel, India’s steel industry possesses enormous growth potential, the report said.
Therefore, the Indian government has been taking necessary steps to facilitate the promotion of production and maintain the growth of the steel industry, according to LiveMint.
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