Steel prices today fell to 4,926 yuan / ton on the Shanghai Exchange. In China, stainless steel prices recovered, driven by the rise in nickel prices.
Steel prices today fell sharply
Construction steel price today delivered in January 2022 on the Shanghai Exchange fell 317 yuan to 4,926 yuan/ton at the time of the survey at 9:10 am (Vietnam time).
| Type name | Period | October 22 | Difference from previous transaction |
| Copper price | Delivery in December 2021 | 72.520 | -1.420 |
| Zinc price | Delivery in December 2021 | 24.805 | -1.040 |
| Nickel price | Delivery in December 2021 | 149.550 | -5.830 |
| Silver price | Delivery in December 2021 | 4.963 | -84 |
| Steel price | Delivery in December 2021 | 4.926 | -317 |
On Thursday (October 21), China’s stainless steel futures recovered after three consecutive declines, driven by a rise in nickel prices, Reuters reported. Futures exchange price list. of some metals on the Shanghai Exchange (Unit: yuan/ton).
Iron ore chart at Shanghai exchange (Source: Shfe)
Accordingly, nickel prices on the Shanghai Futures Exchange (SHFE) rose 8% to a record high of 161,600 yuan/ton ($25,283.58/ton).
The price of stainless steel for November delivery on the SHFE Exchange closed with an increase of 1.1%, reaching 20,470 yuan/ton. Earlier, at the beginning of the session, this contract rose 5.1% to 21,280 yuan/ton.
Meanwhile, other steel products on SHFE tended to decrease in price. Specifically, rebar price fell 8% to 4,976 yuan/ton and hot rolled coil price fell 6.2% to 5,268 yuan/ton.
Similarly, other ferrous metal prices in China fell sharply in afternoon trade, with coking coal, coking coal and construction rebar all falling to the daily trading limit due to lower coal prices and sluggish steel consumption. stagnant.
Data released by the Customs Administration on Wednesday (October 20) showed that China’s imports of nickel ore and nickel iron fell 1.6% and 12.3%, respectively, in September.
China’s stainless steel consumption remains slow in the short term, analysts say, as the recent power split has hit manufacturing in the world’s second-largest economy.
Photo: Alibaba
Also on Wednesday, the Securities and Exchange Commission said it would require futures exchanges to take a variety of measures, including raising fees and limiting trading limits, in response to rising coal prices. high.
Consumption of five main steel products in China, including rebar and hot-rolled coil, fell 7.5% to 9.26 million tonnes on Thursday from a week ago, according to consulting firm Mysteel. there.
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