Steel prices today increased to 4,538 yuan / ton on the Shanghai Exchange. Japan’s crude steel output in November 2021 reached 8.04 million tons, up 10.7% from a year earlier.
Steel prices today increased again.
Steel price today delivered in May 2022 on the Shanghai Exchange increased by 88 yuan to 4,538 yuan/ton at the time of the survey at 8:30 am (Vietnam time).
| Type name | Period | December 24 | Difference from previous transaction |
| Copper price | Delivered in February 2022 | 70.030 | +70 |
| Zinc price | Delivered in February 2022 | 24.455 | +35 |
| Nickel price | Delivered in February 2022 | 148.140 | +670 |
| Silver price | Delivered in July 2022 | 4.862 | +10 |
| Steel price | Delivered in May 2022 | 4.538 | +88 |
List of futures trading prices of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
On Wednesday (December 22), the Japan Iron and Steel Federation (JISF) said that Japan’s crude steel production in November 2021 increased 10.7% from a year earlier, reaching 8, 04 million tons.
Iron ore chart at Shanghai Exchange (Source: Shfe)
This is the 9th consecutive month of increase as domestic demand continues to pick up from the slump caused by the COVID-19 pandemic. However, compared to October 2021, this number decreased by 2.2%.
The healthy recovery comes in line with an October forecast by the Ministry of Economy, Trade and Industry (METI) that Japan’s crude steel production is expected to grow by around 10% in the fourth quarter year-on-year. term 2020.
“The latest data show a year-over-year recovery as steel demand and output both fell due to the pandemic,” said a researcher at JISF.
Annual crude steel production this year is likely to rebound from last year’s 83 million tonnes, he added, the lowest level since 1969, but will fall short of the pre-pandemic 2019 level of 99 million tonnes. due to reduced output power.
Photo: TA TRADING
Japan’s largest steel producer, Nippon Steel Corp., said in February last year that it would shut down nearly 10% of its production capacity.
This is an unprecedented move in Japan’s once-dominated steel industry due to falling domestic demand and competition from the Chinese market.
However, supported by strong demand this year, Japanese steelmakers are on track to recover profits for V-shaped steel.
However, besides that, demand will drive steel product prices, iron ore and coke prices higher, making their inventories likely to increase, Reuters reported.
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