Steel prices today turned down.
Steel price today May 2022 delivery on the Shanghai Exchange fell 35 yuan to 4,285 yuan/ton at the time of the survey at 9:20 am (Vietnam time).
| Type name | Period | December 31st | Difference from previous transaction |
| Copper price | Delivered in February 2022 | 69.820 | -200 |
| Zinc price | Delivered in February 2022 | 24.135 | +90 |
| Nickel price | Delivered in February 2022 | 151.570 | +1.530 |
| Silver price | Delivered in July 2022 | 4.861 | +63 |
| Steel price | Delivered in May 2022 | 4.285 | -35 |
List of futures trading prices of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
On Thursday (December 30), iron ore futures on the Dalian Exchange (DCE) and the Singapore Exchange (SGX) recovered after three consecutive days of decline, Reuters reported.
Iron ore chart at Shanghai Exchange (Source: Shfe)
Specifically, the DCIOcv1 iron ore contract for May 2022 delivery, the most traded on China’s DCE Exchange, ended intraday trading 1% higher at 669.50 yuan/t (equivalent to 669.50 yuan/mt). 105.11 USD/ton).
Previously, this contract price reached 650.50 yuan/ton. This is the lowest level recorded since December 15.
Similarly, the SZZFG2 iron ore contract for February delivery in February 2022 on the SGX also increased by 1.6%, recording a level of 119 USD/ton on the same day.
Without any jump in prices on the final trading session of the year today, iron ore prices on the DCE Exchange have had exactly one week of their first decline since mid-November.
However, concerns about demand for the steelmaking raw material by top Chinese steelmaker China have kept benchmark prices near two-week lows.
SteelHome Consulting data showed that China’s SH-CCN-IRNOR62 spot iron ore price from Australia was $120 a tonne on Wednesday (December 29), about half of its peak. record in May.
Photo: TA TRADING
China’s strict steel production restrictions are expected to remain in place until after the Beijing Winter Olympics in February 2022.
New outbreaks of COVID-19 in China, which has a zero-tolerance policy on infections, and worries about the country’s struggling real estate sector are also likely to cause cautious investors.
“The downturn in the property sector is an important factor to consider given its impact on the overall growth engine and related supply chains,” said analysts at ANZ.
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