Steel prices today increased to 5,481 yuan / ton on the Shanghai Exchange. In China, the indebtedness of real estate companies and a decline in the overall demand outlook have dragged down the price of the ferrous metal.
Steel price increased slightly today
Steel price today January 2022 delivery on the Shanghai Exchange increased 7 yuan to 5,481 yuan/ton at the time of the survey at 9:30 am (Vietnam time).
| Tên loại | Kỳ hạn | Ngày 14/10 | Chênh lệch so với ngày hôm qua |
| Giá đồng | Giao tháng 11/2021 | 71.430 | +1.280 |
| Giá kẽm | Giao tháng 11/2021 | 24.925 | +1.125 |
| Giá niken | Giao tháng 11/2021 | 143.350 | -1.090 |
| Giá bạc | Giao tháng 12/2021 | 4.863 | +53 |
| Giá thép | Giao tháng 1/2022 | 5.481 | +7 |
On Wednesday (October 13), iron ore and rebar futures prices of the world’s top steel producer – China, simultaneously fell, leading to a sell-off in the ferrous metal market, according to Reuters. .Future trading price list of some metals on the Shanghai Exchange (Unit: yuan/ton).
Iron ore chart at Shanghai exchange (Source: Shfe)
This is due to persistent uncertainty about the indebtedness of real estate companies, in addition to a decline in the overall demand outlook.
Specifically, the DCIOcv1 iron ore contract for January delivery, the most traded on the Dalian Commodity Exchange (DCE), ended the daytime session 5.9% lower at 731 yuan/. tons (equivalent to 113.32 USD/ton).
On the same day, on the Shanghai Exchange (SHFE), the standard construction rebar contract SRBcv1 fell 4.7% to 5,421 yuan/ton.
Earlier in the session, this contract recorded at 5,267 yuan / ton – the lowest level since September 3.
Photo: CRU
Currently, Chinese property developers are facing payments due before the end of the year.
Meanwhile, the fate of China Evergrande Group’s HKG: 3333 shares has grown increasingly bleak, leading to fears of a widespread crisis in real estate, which accounts for about a quarter of China’s steel demand. .
Currently, China’s iron ore demand has declined amid tightly regulated environmental-related steel production controls. In the first nine months of this year, the country’s iron ore imports fell 3% year-on-year.
“In the face of strict production restrictions, the market is doubting whether steel mills can resume production on schedule this October,” said Zhongzhou Futures analysts. .
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