Steel prices fell slightly today
Steel prices today January 2022 delivery on the Shanghai Exchange fell 3 yuan to 5,421 yuan/ton at the time of the survey at 9:10 am (Vietnam time).
| Type name | Period | October 19 | Difference from previous transaction |
| Copper price | Delivered in November 2021 | 75.520 | -110 |
| Zinc price | Delivered in November 2021 | 27.145 | -240 |
| Nickel price | Delivered in November 2021 | 150.730 | +1.090 |
| Silver price | Delivered in December 2021 | 4.935 | -9 |
| Steel price | Delivered in January 2022 | 5.421 | -3 |
Futures price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
According to Reuters calculations based on official data, China’s daily crude steel output in September 2021 fell to the lowest level since December 2018, reaching 2.46 million tons, down 8.6 % of average output in August 2021.
Iron ore chart at Shanghai exchange (Source: Shfe)
The reason is that the electricity crisis in much of the country, in addition to environmental constraints, has slowed down the operations of steel mills.
Data from China’s National Bureau of Statistics showed that in September, the world’s top steel producer exported 73.75 million tonnes of the metal, down from 83.24 million tonnes in August and down 21.2% compared to the same month last year.
In the first nine months of 2021, China produced 805.89 million tons of steel, up 2% year-on-year.
Industrial production in the world’s second-largest economy has recently fallen due to energy allocations caused by coal shortages, impacting sectors such as steel and aluminum.
According to data compiled by Mysteel, capacity utilization rates at 71 electric arc furnaces in China have been on a downward trend since late August and recorded 49.22% in the last week of September. down 21.09% over the same period last year.
Output at steel mills with long production times is also limited as Beijing is working to reduce smog and carbon emissions under a commitment that 2021 output does not exceed last year’s record 1.065 billion tons.
Photo: The Edge Markets
Last week, the Ministry of Industry and the Ministry of Environment released a joint statement calling on many factories in Northern China to continue cutting output from November 15, 2021 to the end of 2021.
In addition, from January 1, 2022 to March 15, 2021, factories must cut output by at least 30% of 2021 output figures to reduce air pollution, Reuters reported.
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