Steel prices today increased to 5,064 yuan / ton on the Shanghai Exchange. With the global steel production recovery underway, the seaborne iron ore trade deficit is expected to deepen in 2021 and stretch into 2025.
Steel prices go up today
Steel price today January 2022 delivery on the Shanghai Exchange increased 47 yuan to 5,064 yuan/ton at the time of the survey at 10:30 am (Vietnam time).
| Type name | Period | August 20 | Difference from yesterday |
| Copper price | Delivered in October 2021 | 67.070 | -300 |
| Zinc price | Delivered in October 2021 | 22.430 | -55 |
| Nickel price | Delivered in September 2021 | 140.260 | -1.150 |
| Silver price | Delivery in December 2021 | 5.026 | -19 |
| Steel price | Delivered in January 2021 | 5.064 | +47 |
Futures price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
On May 12, the S&P Global Platts 62% Fe IODEX index hit a record high of $233.10 per tonne, driven by resurgent global demand, tight supply and continued upward steel prices.
Iron ore chart at Shanghai exchange (Source: Shfe)
Although prices fell back in July, steel and iron ore are the two commodities that will benefit from infrastructure investment drivers in both China and the US, such as power generation, electric vehicle charging and high-speed rail network.
With the global steel production recovery underway, S&P Global Market Intelligence expects the seaborne iron ore trade deficit to deepen in 2021 and extend into 2025.
China’s steel industry aims to reach a peak in carbon emissions by 2025 and a 30% reduction from the peak by 2030.
These targets are set in line with the country’s master plan to reach peak carbon emissions by 2030 and be carbon neutral by 2060.
The promotion of decarbonization is expected to benefit products that consume iron ore directly. This production will be done straight into the blast furnace in a process with less polluting emissions.
The local government of Tangshan city, which produced 144 million tons of crude steel in 2020, has embarked on a plan to reduce emissions at 23 steel mills with an expected reduction of 30% to 50% by the end of the year. year 2021.
Other regions in China are also planning to adopt similar measures to reduce carbon emissions in the future,
S&P Global Platts report
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