Prices for iron ore and hot-rolled steel coils are decreasing.

The I-shaped type dropped from 0.6 percent to 4,950 yuan a tonne ($776 a tonne).

Changes in prices of imported ore. Source: Binhkhanhsteel

The price of 62% Fe ore imported from Australia into China on March 15 was priced at 954 yuan / ton (US$ 150 / ton), down 4.1% compared to the previous day. Despite the decrease, the price is still 18% higher than at the beginning of the year.

Lower ore prices contributed to lower steel prices. The price of hot rolled coil on March 15 was 5,006 yuan/ton ($785/ton), down nearly 1% from the previous day.

Type I fell 0.6 percent to 4,950 yuan per tonne ($776 per ton). Cold-rolled steel also had the same decrease, down to 5,536 yuan/ton ($869/ton).

Coal prices also go down, which is one of the factors affecting steel prices. The price of this fuel is 366 USD/ton, down 0.7% compared to the last session of last week. On March 8, the price of this item was 420 USD/ton.

Coal prices also go down, which is one of the factors affecting steel prices. The price of this item is 361 USD/ton, down 0.7% compared to March 14. On March 8, the price of this item was 420 USD/ton.

Coal prices plummeted amid cooling oil prices. WTI oil fell below 100 USD/barrel on March 15. Oil prices fell sharply just a week after rising to nearly $140 a barrel last week, the highest level in nearly 14 years, due to concerns about the risk of global oil supply disruption due to the impact of the war in the US. Ukraine.

In addition, the fact that the city government of Shenzhen - the technology center of China, the world's largest crude oil importer - imposes a large-scale blockade due to Covid-19 is believed to affect the health of the country. Growth in the world's second-largest economy has prompted investors to rethink their forecasts for oil demand.

NDH