Steel prices today fell to 5,534 yuan / ton on the Shanghai Exchange. China Steel Corp announced it will raise domestic delivery prices by 1.32% next month and next quarter to reflect rising production costs.
Steel prices today fell
Steel prices today January 2022 delivery on the Shanghai Exchange fell 70 yuan to 5,534 yuan/ton at the time of the survey at 9:00 (Vietnamese time).
|
Type name |
Period | September 17 | Difference from yesterday |
| Copper price | Delivered in October 2021 |
69.550 |
-660 |
| Zinc price | Delivered in October 2021 | 22.790 | +180 |
| Nickel price | Delivered in October 2021 | 145.050 | -2.220 |
| Silver price | Delivered in november 2021 | 4.868 | -181 |
| Steel price | Delivered in January 2022 | 5.534 | -70 |
Yesterday (September 16), China Steel Corp announced that it will increase domestic delivery prices by 1.32% next month and next quarter to reflect higher production costs in addition to growing steel demand. went up, according to Taipei Times. Futures trading price list of some metals on the Shanghai Exchange (Unit: yuan/ton).
Iron ore chart at Shanghai exchange (Source: Shfe)
A strong global economic recovery, with Taiwan’s projected GDP growth between 5.4 and 6%, and major infrastructure projects in the US, China, Europe and India have created out a strong steel market for the coming time.
However, the market is considered to be still unstable due to the complicated developments of the COVID-19 pandemic while logistics is also a concern.
“The market is approaching the fourth quarter, a time when steel demand is usually extremely positive,” said China Steel Corp. As such, we expect demand to continue to grow, but transport disruptions and a resurgence of COVID-19 in Southeast Asia could affect downstream demand.”
Ảnh: Canary Media
The company also informed that the price of electroplated coil will increase by NT$500/ton in the next month. Similarly, the price of high carbon rods will also increase by NT$500/ton when entering the fourth quarter.
It is expected that the price of sheet steel, hot rolled steel, hot rolled coil, electroplated coil and auto steel will also increase by NT$1,500/ton, while the price of bar material will increase by NT$1,000/ton. ton.
According to the company, steel demand is expected to remain tight due to the implementation of decarbonization policies in some countries around the world and strict restrictions on crude steel production in China ahead of the Summer Olympics. east Beijing next year.
Starting in September, mills in Europe, the US and Asia have entered their annual maintenance period, including nearly half of the blast furnaces in China’s Tangshan steelmaking hub. During this time, supply is also expected to be affected.
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
