Steel prices today increased to 5,706 yuan / ton on the Shanghai Exchange. According to MEPS, stainless steel purchases in Europe were weaker than expected in September.
Steel price today reached 5,706 yuan/ton
Steel price today January 2022 delivery on the Shanghai Exchange increased 65 yuan to 5,706 yuan/ton at the time of the survey at 9:45 am (Vietnam time).
| Type name | Period | October 6 | Difference from yesterday |
| Copper price | Delivered in November 2021 | 67.950 | -690 |
| Zinc price | Delivered in November 2021 | 22.370 | -325 |
| Nickel price | Delivered in November 2021 | 138.070 | -1.070 |
| Silver price | Delivered in December 2021 | 4.615 | -168 |
| Steel price | Delivered in January 2022 | 5.706 | +65 |
Futures price list of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
Stainless steel purchases in Europe were weaker than expected in September. Many market participants said that the sales of mills in the continent in September were reasonable, but lower. compared to the pre-summer months.
Iron ore chart at Shanghai exchange (Source: Shfe)
The market is uncertain whether this is a temporary pullback in post-holiday sales, or is it because the stainless market has been volatile amid the decline in carbon steel prices over the past few weeks.
However, European manufacturers still show optimism about the price level. Accordingly, the price of stainless steel continued to increase in September, most notably the 300 series flat products.
As recorded, MEPS’ Europe 304 cold rolled coil trading value increased by 297 EUR/ton to 3,808 EUR/ton in September, more than double the figure recorded in the same month last year.
Meanwhile, the European average price for 316 cold rolled coil rose to EUR 5,132/ton, close to the level last reported in summer 2007.
At current prices, buyers are increasingly worried about orders placed so far. They seem to have very few options as the market does not see an improvement in the supply of flat steel products.
Photo: Ulbrich Stainless Steels & Special Metals
In the coming months, import volumes are expected to increase as previously ordered products begin to arrive. Many buyers reported that a large amount of material was waiting for customs clearance on October 1.
According to many people’s predictions, the allowed quotas for cold rolled coils of Taiwan and Turkey will quickly run out.
However, the expansion of safeguard quotas by the European Commission (EC), combined with the different anti-dumping duties of each country, will further limit import opportunities, MEPS reported.
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