Steel prices today increased to 4,574 yuan / ton on the Shanghai Exchange. In China, iron ore futures prices continued to increase due to increasing hopes of a recovery in steel demand.
Steel prices continue to go up today.
Steel prices today for delivery in May 2022 on the Shanghai Exchange increased by 53 yuan to 4,574 yuan/ton at the time of the survey at 8:15 am (Vietnam time).
| Type name | Period | December 20 | Difference from previous transaction |
| Copper price | Delivered in February 2022 | 68.950 | -200 |
| Zinc price | Delivered in January 2022 | 23.865 | -105 |
| Nickel price | Delivered in February 2022 | 145.450 | +920 |
| Silver price | Delivered in May 2022 | 4.806 | +12 |
| Steel price | Delivered in July 2022 | 4.574 | +53 |
List of futures trading prices of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
On Friday (December 17), China’s iron ore futures rose to a seven-week high and was set for the fourth consecutive week of gains, Reuters reported.
Iron ore chart at Shanghai Exchange (Source: Shfe)
Accordingly, the May 2022 iron ore contract, the most traded on the Dalian Commodity Exchange (DCE), ended the morning session 1.9% higher at 676.50 yuan. yuan/ton (equivalent to 106.21 USD/ton).
Earlier in the session, this contract touched 696.50 yuan/ton. This is the highest level recorded since October 28 on this exchange.
Similarly, on the same day, the January 2022 iron ore contract, the most actively traded on the Singapore Exchange (SGX), also increased 0.4% to 117.40 USD/ton.
This increase stems from growing hopes of a recovery in steel demand at the world’s largest producer and building materials producer.
However, optimism around the main steelmaking component continued to be tempered by China’s growing inventories of imported iron ore.
In the week from December 6 to December 10, China’s imported iron ore reserves reached 156 million tons. Accordingly, this is the highest production level recorded since July.
Photo: Hickman and Love
China’s spot iron ore market also posted sustained weekly gains. SteelHome Consulting data showed that the benchmark iron ore price of 62% Fe hit $117.50 a tonne on Thursday (December 16), the highest level since October 27.
Overall, commodity markets are returning to normal, after seeing “crazy” moves due to power shortages and a shift in Chinese regulatory measures, said ANZ commodity strategists. Country.
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