Steel prices continue to go down today
Iron and steel prices today delivered in January 2022 on the Shanghai Exchange decreased by 40 yuan to 4,849 yuan / ton at the time of the survey at 9:30 am (Vietnam time).
| Type name | Period | October 26 | Difference from previous transaction |
| Copper price | Delivery in December 2021 | 71.930 | +190 |
| Zinc price | Delivery in December 2021 | 24.425 | -235 |
| Nickel price | Delivery in December 2021 | 151.320 | +2.620 |
| Silver price | Delivery in December 2021 | 5.006 | -32 |
| Steel price | Delivered in January 2022 | 4.849 | -40 |
Futures price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
On Monday (October 25), iron ore futures on the Dalian Commodity Exchange (DCE) recovered. However, concerns about falling steel demand in China continue to restrain the rise of this steel-making raw material, Reuters reported.
Iron ore chart at Shanghai exchange (Source: Shfe)
Accordingly, the DCIOcv1 iron ore contract for January delivery, the most traded on the Dalian Commodity Exchange (DCE), ended daytime trading 1.7% higher at 688.50 yuan/ton (equivalent to 107.85 USD/ton).
Previously, on October 21, the transaction level of this contract fell to 642.50 yuan / ton, the lowest recorded in the past month.
In contrast, on the same day, on the Singapore Exchange (SGX), the SZZFX1 iron ore contract for November delivery gave up early gains, falling 0.5% to $117.95 a tonne.
The general mood in the market has improved after real estate company China Evergrande Group appeared to have averted a default, analysts said.
Weekly data shows that the amount of iron ore exported to China from Australia and Brazil is on a downward trend.
Photo: Uma Steels
Atilla Widnell, Managing Director of Navigate Commodities in Singapore, said: “The main danger for iron ore remains the seasonal decline in steel demand, prices and margins, in addition to potential growth. hidden for China’s port-side inventories”.
Now, the power supply crisis at China’s top steelmaker has forced mills to cut or halt production, which has been hampered by output controls aimed at curbing emissions. .
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