Steel prices fell slightly today
Steel prices today delivered in May 2022 on the Shanghai Exchange fell 6 yuan to 4,122 yuan/ton at the time of the survey at 9:15 am (Vietnam time).
| Tên loại | Kỳ hạn | Ngày 30/11 | Chênh lệch so với giao dịch trước đó |
| Giá đồng | Giao tháng 1/2022 | 70.090 | +230 |
| Giá kẽm | Giao tháng 1/2022 | 22.910 | +55 |
| Giá niken | Giao tháng 2/2022 | 148.510 | +100 |
| Giá bạc | Giao tháng 6/2022 | 4.802 | -83 |
| Giá thép | Giao tháng 5/2022 | 4.122 | -6 |
Futures trading price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
On Monday (November 29), steel futures prices in China traded in a narrow range, due to concerns about demand amid the emergence of a new corona virus variant called Omicron, Reuters reported.
Iron ore chart at Shanghai exchange (Source: Shfe)
Accordingly, the price of construction rebar SRBcv1 delivered in May 2022 on the Shanghai Futures Exchange (SHFE) fell 0.9% to 4,145 yuan/ton (equivalent to 649.19 USD/ton) at closed, after falling 2.5% on Friday (November 26).
Hot rolled coil SHHCcv1 contract for January delivery, used in the manufacturing sector, also fell 0.9% to 4,533 yuan/ton.
Similarly, the price of stainless steel futures SHScv1 on SHFE also fell by 2.6% to 17,170 yuan/ton.
On the same day, iron ore futures DCIOcv1 on the Dalian Commodity Exchange (DCE) rose 4.8% to 615 yuan/ton, up 6.1% earlier in the session. On Friday, the contract fell 6.7%.
“Due to the impact of the new coronavirus variant, steel prices fell in the night trade, causing impacts on real demand and industrial metal supply,” said GF Futures.
CITIC Futures analysts also note that commodity prices may be pressured by the pandemic situation in the short term but will be supported by the easing of asset policy in China in the longer term.
Photo: MC Group
Meanwhile, coking coal and coking coal futures followed the decline in CZCcv1 thermal coal prices, which fell 7.7% earlier in the session, as the government signaled more price regulations.
“Downstream steel demand is relatively weak, thus putting pressure on coke,” CITIC Futures said. At the same time, supply and demand for coking coal is not as strong as expected which can reduce the cost of steel production.”
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