Steel prices today fell to 5,590 yuan / ton on the Shanghai Exchange. In China, stainless steel futures prices continued to decline amid a decline in demand for the metal.
Steel prices today fell
Steel prices today January 2022 delivery on the Shanghai Exchange fell 51 yuan to 5,590 yuan/ton at the time of the survey at 9:45 am (Vietnam time).
| Type name | Period | September30th |
Difference from yesterday |
| Steel Price | Delivered in January 2022 | 5.590 | -51 |
| Zinc price | Delivered in November 2021 | 22.585 | -110 |
| Nickel price | Delivered in November 2021 | 138.450 | -690. |
| Silver price | Delivered in December 2021 | 4.621 | -162 |
| Copper price | Delivered in November 2021 | 68.240 | -400 |
Futures price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
On Wednesday (September 29), China’s stainless steel futures fell more than 3%, recording a fourth straight session decline amid falling demand for the metal.
Iron ore chart at Shanghai exchange (Source: Shfe)
Accordingly, the price of SHSScv1 stainless steel for November delivery on the Shanghai Futures Exchange (SHFE) ended the session down 1.6% at 19,690 yuan/ton (equivalent to 3,045.06 USD/ton). .
Earlier in the session, the most traded contract on this SHFE Exchange fell 3.1% to 19,405 yuan/ton.
Meanwhile, other steel products on SHFE exchange moved to a higher level.
Specifically, the price of rebar as a construction material SRBcv1 increased by 1.1% to 5,657 yuan/ton (equivalent to 874.86 USD/ton).
Similarly, the price of hot rolled coil SHHCcv1, used in the manufacturing sector, increased 1.3% to 5,697 yuan/ton at the close.
On the same day, the price of iron ore DCIOcv1 for January delivery on the Dalian Commodity Exchange (DCE) also recorded an upward trend, up 2.1% to 694 yuan/ton.
Photo: Defense Connect
Recently, China has been grappling with power shortages that have forced factories in major industrial hubs such as Guangdong and Jiangsu to shut down due to energy consumption controls and shortages. coal.
Fu Zhiwen, Analyst at Huatai Futures, said: “Consumption of stainless steel downstream has been limited, especially in Guangdong province. At the same time, the profits of manufacturers are also falling due to high prices.”
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