Steel price today on the Shanghai ExchangeThe price of steel today delivered in May 2022 on the Shanghai Exchange increased 62 yuan to 4,850 yuan / ton at the time of the survey at 10 am (Vietnam time).
| Type name | Period | February 22 | Difference from previous transaction |
| Copper price | Delivery in April 2022 | 71.220 | -320 |
| Zinc price | Delivery in April 2022 | 24.855 | -10 |
| Nickel price | Delivery in March 2022 | 177.490 | +1.250 |
| Silver price | Delivery in July 2022 | 4.920 | +14 |
| Steel price | Delivery in May 2022 | 4.850 | +62 |
Futures trading price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
Fitch Solutions is revising its 2022 iron ore price forecast from $90/ton to $120/mt and increasing its forecast from $75/mt to $110/mt for 2023, as Chinese demand once again kicks in. recovery head
Iron ore chart at Shanghai Exchange (Source: Shfe)
The company expects Chinese demand to remain strong in 2022 and 2023 as the government has re-stimulated the infrastructure sector amid a slowing economy.
Iron ore prices reversed in December 2021, starting an uptrend after falling from July 2021, as supply continued to be limited while demand increased.
Previously, iron ore prices started to increase sharply from mid-2020 and had a special recovery in the first half of 2021.
However, when the price reached 150 USD/ton in February this year, the Chinese government announced a crackdown on speculation in the iron ore trade, leading to iron ore prices falling, hovering at 120 USD/ton. , due to the negative sentiment of investors.
The National Development and Reform Commission (NDRC) announced that investigative teams will be sent to the commodity exchanges and key ports to review iron ore inventories and spot market trading and futures market.
Subsequently, the Dalian stock market doubled trading fees on some iron ore futures contracts effective February 16.
“While price weakness is expected in the coming days, this will be temporary,” Fitch Solutions said.
“We believe prices will receive support from China’s new supply constraints and demand strength in 2022, so the annual average iron ore prices for 2022 and 2023 will remain stable. above pre-COVID-19 levels.”
Photo: MC Group
China is considering increasing financial support for the economy into 2022, amid a sluggish economic growth outlook due to a weakness in the real estate sector and related strict lockdowns. to the pandemic.
Vice Finance Minister Xu Hongcai also announced that the central government would promote the transfer to local governments, adding that the Ministry of Finance had pre-granted a quota of 1.46 trillion yen for bonds. dedicated ballot of local government by 2022.
Fitch Solutions emphasized: “We expect iron ore consumption from the steel sector to increase sharply in 2022 after power shortages in the second half of 2021 limit steel production.”
On the supply side, while production growth from Brazil and Australia begins to improve and supplies in the ocean market ease, it will still take time for leading metals company Vale to return to capacity levels. before the collapse of the Brumadinho Dam, according to Mining Weekly.
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