Steel prices today increased to 4,791 yuan / ton on the Shanghai Exchange. Iron ore futures plunged on concerns among traders about China’s grip, with Beijing warning to take action against the spread of price misinformation.
Steel prices continue to rise again today
Steel price today delivered in May 2022 on the Shanghai Exchange increased 47 yuan to 4,791 yuan / ton at the time of the survey at 9:50 am (Vietnam time).
| Tên loại | Kỳ hạn | Ngày 16/2 | Chênh lệch so với giao dịch trước đó |
| Giá đồng | Giao tháng 3/2022 | 71.450 | +580 |
| Giá kẽm | Giao tháng 3/2022 | 25.065 | -90 |
| Giá niken | Giao tháng 3/2022 | 173.880 | +2.150 |
| Giá bạc | Giao tháng 6/2022 | 4.809 | -123 |
| Giá thép | Giao tháng 5/2022 | 4.791 | +47 |
List of futures trading prices of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
On Tuesday (February 15), iron ore futures plunged, extending a sharp drop the previous day, Reuters reported.
That was due to traders’ concerns about China’s grip, with Beijing warning to act against the spread of price misinformation.
Accordingly, the DCIOcv1 iron ore contract for May 2022 delivery, the most traded on China’s Dalian Commodity Exchange (DCE), fell 10% to 699 yuan/ton (equivalent to 110.08). USD/ton).
This is the lowest trading level of this contract since January 18.
Similarly, iron ore contract SZZFH2 for delivery in March 2022 on the Singapore Exchange (SICOM) also plummeted 13.8% to $127.90/ton.
On the same day, construction rebar price on Shanghai Futures Exchange (SHFE) fell 2.8%, hot rolled coil price dropped 2.7%, while stainless steel price increased 1.4%.
“Iron ore futures continue to come under pressure amid China’s determination to limit speculative upside,” said ANZ commodity strategists.
The sell-off reflects growing investor anxiety as China’s state regulator, along with the market regulator, will convene iron ore traders at home and abroad for a meeting. meeting on February 17 in an effort to ensure market stability.
Photo: Alibaba
China’s National Development and Reform Commission doubled the warning it issued last week against suppliers of unidentified information that it says are manipulating iron ore prices.
In a concerted effort to cool off a sustained rally, when DCE iron ore prices hit a more than five-month high last week, DCE Exchange announced an increase in trading fees for monthly futures contracts. 2 to May.
Data from consulting firm SteelHome showed that China’s benchmark 62% iron ore spot price has dropped again, trading at $149 a tonne on Monday, from its all-time high. for 6 months was $152.50 last week.
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