Construction steel price for January delivery on the Shanghai Exchange fell 83 yuan to 5,725 yuan/ton at the time of the survey at 9:45 am (Vietnam time).
| Type name | Period | October 12 | Difference from yesterday |
| Copper price | Delivered in November 2021 | 70.120 | +560 |
| Zinc price | Delivered in November 2021 | 23.615 | +420 |
| Nickel price | Delivered in November 2021 | 144.670 | -410 |
| Silver price | Delivered in December 2021 | 4.825 | -45 |
| Steel price | Delivered in January 2022 | 5.725 | -83 |
List of futures trading prices of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
Recently, S&P Global Platts conducted a survey on sentiment in the German steel sector. The survey shows that most of the participants believe that inventories will be higher in the near future.
Iron ore chart at Shanghai exchange (Source: Shfe)
In the context of slow purchasing activities, the increasing volume of imports at European ports makes steel mills insecure.
The situation of cheap imports and shortage of semiconductors are two factors hindering demand for steel in the automotive industry, leading to a higher level of steel available in the market.
Previously, in September, the European market was uncertain about prices and inventories. Amid semiconductor shortages, automakers have had to disrupt production.
Specifically, Stellantis – one of the leading car manufacturers, had to cut production time from 24/7 to just 5 days a week. Meanwhile, two other manufacturers had to announce their shutdown.
Since then, market participants have been very cautious about disclosing viable prices at a time when trading activity was minimal. Many people choose to keep spot contracts for fear that prices will fall as the volume of imports arriving at European ports increases.
According to a trader in Europe, imports are being seen as a serious threat at this stage. He also said that automotive demand is expected to remain under great pressure as the semiconductor issue remains unresolved in the near future.
Photo: Bloomberg
As domestic prices rose, European inventories began to grow as unwanted cars, along with recently cleared imports, became available in large numbers of markets.
While some mills are confident that peripheral sectors such as heavy machinery and the construction industries will be able to capitalize on the surplus of steel, a number of mills in Europe are believed to be moving blocks. amount of steel available for export.
“The cancellation of auto orders has forced factories to try to shift volumes to the export market so as not to affect domestic prices,” a European factory source said.
T&G International Joint Stock Company
Address: 352 Hue Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi
Hotline: 0345786803
Email: hrm@tginterjsc.com
Website: http://tginternationaljsc.com
