Steel prices today increased to 4,355 yuan / ton on the Shanghai Exchange. Prices of China’s steel products and steelmaking materials surged, after it was reported that China Evergrande Group had made payments to bondholders.
Steel prices increased slightly today.
Today’s price for delivery in January 2022 on the Shanghai Exchange increased by 6 yuan to 4,355 yuan/ton at the time of the survey at 8:45 am (Vietnam time).
| Type name | Period | 11/12 | Difference from previous transaction |
| Copper price | Delivered in December 2021 | 70.930 | +690 |
| Zinc price | Delivered in December 2021 | 23.395 | +15 |
| Nickel price | Delivered in December 2021 | 146.810 | +2.110 |
| Silver price | Delivered in December 2021 | 5.212 | +114 |
| Steel price | Delivered in January 2022 | 5.212 | +6 |
The prices of steel products and steelmaking materials in China surged on Thursday (November 11), after it was reported that China Evergrande Group had made coupon payments to bondholders, helping prevent default, Reuters reported. Futures trading price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
Iron ore chart at Shanghai exchange (Source: Shfe)
Specifically, the DCIOcv1 iron ore contract for January delivery, the most actively traded on the Dalian Commodity Exchange (DCE), rose 6.8% to 570.50 yuan/ton, exiting the lowest level within a year recorded on a previous day.
On the Singapore Exchange (SGX), iron ore contract for delivery in December 2021 also increased by 4.9%, recording at $ 92.20 / ton.
Prices of other steelmaking inputs on the DCE also rebounded after the recent sell-off, with the DJMcv1 coking coal contract up 6.2% and the DCJcv1 coking coal contract up 6.8%.
On the same day, the price of SRBcv1 construction rebar for January delivery, the most traded on the Shanghai Futures Exchange (SHFE), reached its limit of an increase of 8%, before the end of the high day trading. more than 7.4% at 4,443 yuan 695.13 USD/ton.
Photo: TA TRADING
Traders’ concerns about China’s debt-laden real estate sector have recently weighed on steel and iron ore prices, which have been under pressure due to weak domestic demand for raw materials.
Some of Evergrande’s bondholders have received coupon payments from the giant Chinese property developer, a source said.
However, weak demand and rising port-side inventories are two factors that continue to weigh on spot iron ore prices in China, the world’s top steel producer.
SteelHome consulting data showed that the price of standard iron ore 62% Fe hit an 18-month low of $90 a tonne on Wednesday (November 10).
“We expect iron ore prices to find a floor around current levels,” said Daniel Hynes, Senior Commodity Strategist at ANZ. But the restrictions on steel production are likely to last until after the Beijing Winter Olympics in February 2022, so the upside looks limited in the short term.”
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