Steel prices today increased to 4,430 yuan / ton on the Shanghai Exchange. British steel companies have been operating at a significant disadvantage relative to other European rivals since the start of 2022.
Steel prices today turned upside down. Steel price today delivered in May 2022 on the Shanghai Exchange increased by 77 yuan to 4,430 yuan / ton at the time of the survey at 7:50 am (Vietnam time).
| Type name | Period | 5/1 | Difference from previous transaction |
| Giá đồng | Delivered in February 2022 | 70.710 | +910 |
| Giá kẽm | Delivered in February 2022 | 24.420 | +325 |
| Giá niken | Delivered in February 2022 | 154.820 | +3.130 |
| Giá bạc | Delivered in July 2022 | 4.813 | +15 |
| Giá thép | Delivered in May 2022 | 4.430 | +77 |
List of futures trading prices of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
British steel companies have been operating at a significant disadvantage compared to other European rivals since the beginning of 2022, BBC News reports.
Iron ore chart at Shanghai Exchange (Source: Shfe)
The European Union (EU) has made an agreement with the US, effective January 1, to allow companies to export steel back to the US without incurring any tariffs.
Britain has yet to reach a similar deal, although it hopes for more talks with the US this month.
That means UK companies are still subject to a 25% tariff on exports to the US.
Due to US tariffs on products from the UK, United Cast Bar Limited (UCB) is moving some of its production to a factory in Spain.
Mr. James Brand, CEO of UCB foundries, said: “60% of what we can make here we can also do in Spain. And our customers don’t want that extra 25% cost.”
Once U.S. importers get used to consignments coming from Spain, a new trade pattern will be established and it will be impossible for them to avoid if any part of the product is contaminated. origin from England.
Photo: Tangshan Yuxuan International Trading Co. Ltd
There is also an additional complication facing the UK: political concern in Washington over Britain’s threat to suspend parts of its post-Brexit deal with the EU on Northern Ireland.
The government argues that the steel dispute could in fact lead to further complications in Northern Ireland, given the country’s special status as part of the EU’s single goods market.
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