Steel prices today maintain a downward trend
Steel price today delivered in January 2022 on the Shanghai Exchange fell 93 yuan to 4,770 yuan / ton at the time of the survey at 9:10 am (Vietnam time).
| Tên loại | Kỳ hạn | Ngày 27/10 | Chênh lệch so với giao dịch trước đó |
| Giá đồng | Giao tháng 12/2021 | 71.630 | -380 |
| Giá kẽm | Giao tháng 12/2021 | 24.270 | -285 |
| Giá niken | Giao tháng 12/2021 | 150.480 | -1.210 |
| Giá bạc | Giao tháng 12/2021 | 4.905 | -112 |
| Giá thép | Giao tháng 1/2022 | 4.770 | -93 |
On Monday (October 25), the China Iron and Steel Association (CISA) announced it would step up efforts to secure iron ore supplies, as steel mills reported better profits in the first three quarters. 2021. Futures trading price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
Iron ore chart at Shanghai exchange (Source: Shfe)
This statement comes despite rising raw material costs and tightening environmental protection measures.
The upstream material supply has become increasingly monopolistic, while the downstream industry in China is highly fragmented.
Therefore, the importance of strategically sourcing iron ore, coal, coking coal and scrap steel was highlighted by CISA in a press release sent to the Global Times on Monday.
CISA said it will speed up the process of iron ore supply settlement through more negotiation and exchange.
At the same time, CISA will also develop material supply, improve the pricing mechanism for iron ore, and refine futures trading rules to ensure a stable industry and supply chain.
Photo: Freepik
In the first nine months of the year, China’s crude steel production increased by 2% to 80,589 tons, showing a growth rate of 2.5 percentage points lower than the same period in 2020.
Also during this period, the average price of iron ore reached $171.67/ton, up 72.64% over the same period last year. Similarly, the price of coking coal also increased by 57.07% and the price of scrap steel increased by 36.48%.
Since then, Chinese steelmakers have optimized their business and posted a total profit of 319.3 billion yuan (US$49.97 billion) in the first nine months of 2021, up 123% over the same period last year.
However, the nationwide restrictions have had a clear impact on crude steel production, with September output falling 21.2% year-on-year – the slowest growth in three years, Global Times reported.
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