Steel prices today increased to 5,538 yuan / ton on the Shanghai Exchange. Ukraine’s metal companies are already beginning to feel the impact of rising natural gas prices on their production costs.
Steel prices increased slightly today
Steel price today January 2022 delivery on the Shanghai Exchange increased by 27 yuan to 5,538 yuan/ton at the time of the survey at 9:45 am (Vietnam time).
| Type Name | Period | September 27 | Difference from yesterday |
| Copper price |
Delivered in November 2021 |
69.650 |
+770 |
| Zinc price |
Delivered in November 2021 |
22.940 | +50 |
| Nickel price |
Delivered in November 2021 |
144.040 | -40 |
| Silver price |
Delivered in December 2021 |
4.842 | -6 |
| Steel price |
Delivered in January 2022 |
5.538 | +27 |
Futures price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
Ukraine’s metal companies have begun to feel the obvious impact of rising natural gas prices on their production costs, S&P Global Platts reported.
Iron ore chart at Shanghai exchange (Source: Shfe)
However, its peers in Russia are still relatively safe thanks to state regulations on the natural gas market and because of the large number of gas suppliers.
This month, European and Turkish steel mills raised concerns about rising electricity and gas costs, with electricity prices in Spain and Italy at all-time highs. Similarly, rising costs are now becoming a concern in Ukraine.
A spokesman for Ukrainian steel pipe maker Interpipe said that normally, scrap steel is the most expensive item in the company’s production value.
But recently, the price of natural gas, which is used mainly in rotary kilns and heat treatment lines, has increased significantly compared to before, surpassing even scrap steel.
As noted, the price of gas in Ukraine began to increase from April this year, and in August and September, the price of this material has increased to a record level. This increase affected all Ukraine Interpipe products, forcing the company to pass those costs on to consumers.
Photo: Ulbrich Stainless Steels & Special Metals
Meanwhile, Russian mining and metal companies feel more or less unaffected by the soaring natural gas prices that are sweeping Europe and other regions dependent on gas imports. other natural combustion.
In the second quarter of 2021, energy spending accounted for 6% of Severstal’s steel sales costs and accounted for 7.6% of MMK’s costs. These figures are half of the 10-20% share of the electricity market share in the cost of production at factories in Europe.
“Energy price inflation due to record high natural gas prices is more or less a local problem, especially in the Union,” said Sergey Nedelin, an analyst at Metals and Mining Intelligence. Europe as a result of certain changes in the environmental agenda”.
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