Steel price today turned to go up.
Today’s steel price for delivery in May 2022 on the Shanghai Exchange increased by 59 yuan to 4,586 yuan/ton at the time of the survey at 8:45 am (Vietnam time).
| Type name | Period | 21/1 | Difference from previous transaction |
| Copper price | Delivered in February 2022 | 70.250 | +680 |
| Zinc price | Delivered in March 2022 | 24.795 | +580 |
| Nickel price | Delivered in February 2022 | 160.850 | +4.480 |
| Silver price | Delivered in July 2022 | 4.719 | +51 |
| Steel price | Delivered in May 2022 | 4.586 | +59 |
Futures trading price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
China’s stainless steel futures rose more than 5% on Tuesday, boosted by concerns about tight supply as manufacturers cut output, while raw material prices crude also increased sharply.
Iron ore chart at Shanghai Exchange (Source: Shfe)
Accordingly, the February 2022 stainless steel contract, the most actively traded on the Shanghai Futures Exchange (SHFE), increased by 5.3% to 17,920 yuan/ton (equivalent to 2,812.39). USD/ton).
At the close, the contract was up 4.4% to 17,760 yuan/ton.
Similarly, prices of other steel products on SHFE also tended to go up on the same day.
Specifically, the price of used construction rebar delivered in May 2022 increased 2% to 4,589 yuan/ton. Prices of hot rolled coil, used for cars and home appliances, rose 1.6% to 4,719 yuan a tonne.
“Domestic stainless steel companies are stepping up maintenance in the first quarter, while being affected by the Spring Festival holidays and the Beijing Winter Olympics,” said Jinrui Futures analysts. . Total production is expected to be limited.”
According to Huatai Futures announcement, stainless steel was also underpinned by nickel prices due to tight spot volumes.
Photo: Alibaba
China Iron and Steel Association (CISA) on Monday (January 10) said that China’s 2021 crude steel output is estimated to fall to 1.03 billion tons from a record 1.065 billion tons in 2020. achieve the “balance of supply and demand”.
According to Huatai Futures, manufacturers of processed long steel still have the ability to make a profit. Expectations on the resumption of steel production and additional demand ahead of the holiday season could boost iron ore prices, according to Reuters.
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