Today the value dropped to 5,175 yuan/ton on the Shanghai Exchange. Futures values maintain momentum driven by hopes of an improvement such as steel demand in China and struggling margins.
Today reduced value again
Today’s price for delivery in January 2022 on the Shanghai Exchange fell 42 yuan to 5,175 yuan per attack at the survey point at 10:30 am (Vietnam time).
| Type name | Period | August 27 | Difference from yesterday |
| Copper price | Delivered in October 2021 | 68.910 | -190 |
| Zinc price | Delivered in October 2021 | 22.355 | -235 |
| Nickel price | Delivered in October 2021 | 139.740 | -3.830 |
| Silver price | Delivery in December 2021 | 5.060 | -40 |
| Steel price | Delivered in January 2022 | 5.175 | -42 |
Futures table of some metals on the Shanghai Exchange (Unit: yuan / ton). Summary: Thao Vy
Iron prices on the Dalian Commodity Exchange (DCE) rose for a fourth straight session on Thursday (August 26), boosted by hopes of an improvement such as steel demand in China and the crash. strive for profit margins.
Iron ore chart at Shanghai exchange (Source: Shfe)
Specifically, the January 2022 iron ore contract, the most traded on China’s DCE Exchange, ended the daytime session 0.7% higher at 816 yuan/t (equivalent to 125). .89 USD/ton).
Similarly, the iron ore contract traded in October 2021 on the Singapore Exchange was also adjusted up 2.7%, recording a level of 152 USD/ton on the same day.
The drop in iron ore prices from record highs in May has helped lift steel margins. This may cause Chinese factories to increase output in the near future.
Daily crude steel production for the period from August 11 to August 20 averaged 2.14 million tonnes, up 4.6 percent from the average volume recorded during the period, analysts said. First 10 days of the month.
Meanwhile, spot iron ore prices have fallen below $150/mt from a record peak above $230/mt in May. This is due to a drop in Chinese demand, partly due to the measures. control the country’s ongoing steel production.
However, optimism surrounding China’s steel demand is partially supporting steel and iron ore prices in the market.
“The accelerated issuance of local government bonds also raises hopes of stronger steel demand in the coming months,” said Daniel Hynes, senior commodity strategist at ANZ.
Since last week, the local government has sold more than 600 billion yuan, he said. The proceeds from the sale of these bonds are often used to finance infrastructure development projects, Reuters reported.
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