Steel, iron ore, zinc, aluminum all increased in price

Iron ore price on January 4 was 120.9 USD/ton, up 7.5% compared to December 31, 2021.

The price of rebar on January 5 was traded at 4,620 yuan / ton, up 1.1% compared to the last day of 2021.

Price movements of rebar. Source: Trading Economics

Steel prices inched up in the context of China's "zero Covid" policy. China's steel output in November 2021 reached 69.3 million tons, 22% lower than the same period in 2021 and is the 6th consecutive month of decreasing output because of China's policy to cut emissions into the environment. The country and the construction industry slowed down.

Iron ore price on January 4 was 120.9 USD/ton, up 7.5% compared to December 31, 2021. The price of this commodity once set a record of 219.5 USD/ton on July 19, 2021.

Price movements of ore 62% Fe. Source: Trading Economics

Zinc price traded on January 4 at 3,650 USD/ton, up 3.3% since the beginning of the year. This item has a record high of 3794.5 USD/ton on October 4, 2021.

Zinc price movements. Source: Trading Economics

Aluminum recorded a level of nearly 2,850 USD / ton on January 4, inching up 1.5% compared to December 31, 2021. This item used to be a record high of 3,200 USD/ton in October 2021.

Aluminum price movements. Source: Trading Economics

Aluminum prices are expected to remain high in the near term because of high demand and low supply, especially in Europe. China recently asked the aluminum industry to reduce emissions by 5% into the environment and this policy will affect the country's aluminum output.

NDH