Steel prices today on the Shanghai Exchange fell to 4,886 yuan / ton. China pledged to deal with unusual behavior that disrupts market order and prevent coal companies from seeking excessive profits.
Construction steel prices continue to go down today
Construction steel price today delivered in January 2022 on the Shanghai Exchange fell 21 yuan, recorded at 4,886 yuan / ton at the time of the survey at 9:30 am (Vietnam time).
| Type name | Period | October 25 | Difference from previous transaction |
| Copper price | Delivery in December 2021 | 71.830 | -330 |
| Zinc price | Delivery in December 2021 | 24.915 | +150 |
| Nickel price | Delivery in December 2021 | 148.930 | -1.360 |
| Silver price | Delivery in December 2021 | 5.008 | +28 |
| Steel price | Delivered in January 2022 | 4.886 | -21 |
Futures trading price list of some metals on Shanghai floor (Unit: yuan/ton). Summary: Thao Vy
According to Reuters, on Friday (October 22), China’s ferrous metal futures fell sharply, with steel and steelmaking materials both recording weekly declines.
Iron ore chart at Shanghai exchange (Source: Shfe)
Currently, China is trying to control coal prices on the rise. At the same time, the country also pledged to tackle unusual behaviors that disrupt market order and prevent coal companies from seeking excessive profits.
“Policies for the coal industry to ensure supply and stabilize prices are being strengthened,” said SinoSteel Futures analysts. Market participants need to be wary of price escalation.”
On Saturday (October 23), the China Iron and Steel Association (CISA) stated that industry players must ensure supply and keep prices stable in the complex and volatile market situation. is fine”.
In a post on the Association’s official WeChat page, Chairman He Wenbo shared that great attention should be paid to the recovery of global steel production in addition to adjusting production and improving industry governance.
He added: “Government specifications on the scale of production are not a permanent solution. Market forces, the rule of law and internationalization remain fundamental principles that we must always adhere to.”
Photo: Uma Steels
According to Reuters calculations based on official data, in September China’s daily crude steel output fell to the lowest level since December 2018.
The reason is that the electricity crisis in much of the country and environmental restrictions have slowed industrial activity, causing prices to fluctuate.
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