Steel prices today fell to 4,208 yuan / ton on the Shanghai Exchange. In China, stainless steel futures fell as traders predicted higher output this month.
Steel prices today fell again
Steel price today delivered in January 2022 on the Shanghai Exchange fell 64 yuan to 4,208 yuan / ton at the time of the survey at 9:15 am (Vietnam time).
| Type name | Period | 11/05 | Difference from previous transaction |
| Copper price | Delivery in December 2021 | 69.420 | -850 |
| Zinc price | Delivery in December 2021 | 23.000 | -620 |
| Nickel price | Delivery in December 2021 | 141.630 | -1.160 |
| Silver price | Delivery in December 2021 | 4.894 | +103 |
| Steel price | Delivered in January 2022 | 4.208 | -64 |
China’s stainless steel futures fell more than 2% on Thursday as traders predicted higher output this month amid easing in some key manufacturing regions. electricity restriction. Futures price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
Iron ore chart at Shanghai exchange (Source: Shfe)
Accordingly, the December 2021 stainless steel contract, the most actively traded on the Shanghai Futures Exchange (SHFE), fell 2.6% to 18,070 yuan/ton.
At the close, the contract also fell 2.3% to 18,130 yuan/ton.
Other steel products on SHFE also have a downward trend as demand in downstream areas remains sluggish.
Specifically, the price of construction rebar delivered in January 2021 decreased by 2.4% to 4,226 yuan/ton.
Similarly, the price of hot rolled coil, used in the manufacturing sector, also fell 2.1% to 4,614 yuan/ton.
On the same day, prices of steelmaking materials on the Dalian Commodity Exchange (DCE) were mixed at the close of trading.
Iron ore futures inched up 0.3 percent to 583 yuan a tonne and coking coal futures rose 1.5% to 2,405 yuan a tonne.
However, coke prices backed off from a 4.3% gain earlier in the session and ended 2.6% lower at 3,035 yuan a tonne.
Photo: Freepik
Citing data from consulting firm Mysteel, GF Futures analysts said that stainless steel production in November is expected to increase 14.39% from a month earlier.
According to GF Futures: “Jiangsu and Fujian provinces have relaxed power consumption control, so capacity at steel mills is gradually recovering”, Reuters reported.
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