Steel prices today fell sharply
Steel price today January 2022 delivery on the Shanghai Exchange fell 205 yuan to 4,568 yuan/ton at the time of the survey at 8:30 am (Vietnam time).
| Type name | Period | October 28 | Difference from previous transaction |
| Copper price | Delivery in December 2021 | 71.630 | -380 |
| Zinc price | Delivery in December 2021 | 24.270 | -285 |
| Nickel Price | Delivery in December 2021 | 150.480 | -1.210 |
| Silver price | Delivery in December 2021 | 4.905 | -112 |
| Steel price | Delivered in January 2022 | 4.568 | -205 |
Futures price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
On Wednesday (October 27), China’s steel futures fell as raw material prices fell amid government intervention to cool commodity prices, Reuters reported.
Iron ore chart at Shanghai exchange (Source: Shfe)
Meanwhile, the demand for industrial metals remains on a downward trend as the government is increasing production control.
Specifically, on the Shanghai Futures Exchange (SHFE), the price of SRBcv1 rebar dropped 4.3% to 4,655 yuan/ton.
The price of hot rolled coil SHHCcv1, used in the production of cars and home appliances, fell 3.6% to 5,032 yuan/ton at the close.
Similarly, the price of SHScv1 stainless steel on SHFE ended down 2.1% to 19,630 yuan/ton.
On the Dalian Commodity Exchange (DCE), the DJMcv1 coking coal contract and the DCJcv1 coke contract both fell 9% to 2,704 yuan/ton and 3,430 yuan/mt, respectively, hitting trading limits. daily.
This drop comes as the CZCcv1 thermal power coal contract hit a 10% lower trading limit, after the government asked the major coal-producing provinces to probe and regulate illegal factors, while preventing prevent hoarding behavior.
Photo: TA TRADING
Meanwhile, iron ore futures DCIOcv1 for January delivery on the DCE closed up 1% to 707 yuan/ton, recovering from a 4.1% drop earlier in the session.
Data from consulting firm SteelHome showed that the spot price of SH-CCN-IRNOR62 iron ore with 62% Fe content for delivery to China was unchanged at $121.5/mt on Tuesday. ten).
Steel supplies are expected to be continuously impacted by energy consumption controls and environmental restrictions in preparation for the Winter Olympics, analysts at CITIC Securities said. iron ore demand will also decline in the long term.
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