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In China, the price of coking coal futures increased due to the demand for reserves at steel mills in the context of relatively tight raw material supply.
Steel prices today increased beyond 4,600 yuan / ton
|
Type name |
Period |
Date 13/1 |
Difference from previous transaction |
|---|---|---|---|
|
Steel price |
Delivered in 5/20 22 |
4.688 |
+87 |
|
Copper price |
Delivered in 2/2022 |
72.540 |
+1.990 |
|
Zinc price |
Delivered in3/2022 |
25.040 |
+285 |
|
Nickel price |
Delivered in 2/2022 |
163.590 |
+2.720 |
|
Silver price |
Delivered in 6/2022 |
4.800 |
+89 |
List of futures trading prices of some metals on the Shanghai Exchange (Unit: yuan/ton). Summary: Thao Vy
On Wednesday (January 12), China's coking coal futures on the Dalian Commodity Exchange (SCE) spiked, Reuters reported.
Iron ore chart (Source: Investing)
The reason is driven by the demand for reserves at steel mills in the context of raw material supply
Meanwhile, coke prices rose 2.3% to 3,210 yuan a tonne during the session, before closing down 0.3% at 3,130 yuan a tonne.
On the same day, the price of iron ore for delivery in May 2022 on the DCE Exchange increased 1.3% to 725 yuan/ton.
Data from consulting firm SteelHome showed that the price of iron ore with 62% Fe content for spot delivery to China increased by $1.50 to $129/ton on Tuesday (January 11).
“Demand for coke is relatively strong as utilization rates at mills recover after Tangshan city lifts smog warning,” said Haitong Futures analysts.
Affected by the recent COVID-19 outbreak, transportation has slowed, while output at coal mines has decreased ahead of the Tet holiday, resulting in a relatively tight supply of coking coal.
Data from the statistics agency shows that China's factory import prices increased by 10.3% in December 2021, slowing down from November 2021, and falling short of market expectations after. government measures to curb high raw material prices.
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