Steel prices today fell to 4,738 yuan / ton on the Shanghai Exchange. China iron ore futures fell again after last week’s rally
Steel prices continue to fall sharply today.
Steel price today delivered in May 2022 on the Shanghai Exchange fell 124 yuan to 4,738 yuan/ton at the time of the survey at 9:15 am (Vietnam time).
| Type name | Period | February 15th | Difference from previous transaction |
| Copper price | Delivery in March 2022 | 70.850 | -400 |
| Zinc price | Delivery in March 2022 | 25.120 | -425 |
| Nickel price | Delivery in March 2022 | 172.180 | -1.530 |
| Silver price | Delivery in July 2022 | 4.939 | +96 |
| Steel price | Delivery in May 2022 | 4.738 | -124 |
List of futures trading prices of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
China’s iron ore futures fell on Monday, after a rally last week sent prices to their highest in more than five months, Reuters reported.
Iron ore chart at Shanghai Exchange (Source: Shfe)
The reason comes from traders worried about warnings from the country’s water regulator about recent unusual price moves.
Accordingly, the DCIOcv1 iron ore contract for May delivery, the most traded on the Dalian Exchange (DCE), ended the daytime session 6.8% lower at 776.50 yuan at 776.50 yuan. /ton (equivalent to 122.07 USD/ton).
Earlier in the session, this contract fell 8.6%, to 761.50 yuan/ton. This is the lowest level for the May 2022 iron ore contract recorded since January 27.
Similarly, on the Singapore Exchange (SICOM), the SZZFH2 iron ore contract for March delivery also fell 1.2% at $148/ton on the same day.
In addition to the warnings, in an apparent move to cool the rally, China’s DCE has also announced an increase in trading fees on iron ore futures contracts for deliveries from February to February. month
Photo: Shanghai Unite Steel
The National Development and Reform Commission (NDRC), China’s state planning agency, said on Friday that several groups would be sent to commodity exchanges and major ports to review iron ore inventories as well as trade in the spot and futures markets.
At the same time, the agency also warned information providers not to fabricate prices in the context that the market has witnessed a rapid increase in the past 5 weeks.
Atilla Widnell, Managing Director of Navigate Commodities (Singapore), said: “We are entering what can be called extremely uncertain period for iron ore. The bullish narrative is pushing the market higher while it is constantly being stymied by China’s policies.”
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
