News

Steel prices today fell to 4,469 yuan / ton on the Shanghai Exchange.

Steel prices on January 5 increased by 1.1% compared to December 31, 2021, trading at 4,620 yuan/ton.

The industrial metals market in 2021 will grow steadily across the board on the back of growing demand.

2021 is a successful year for the steel industry.

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Japan's Ministry of Economy, Trade and Industry (METI) forecasts that Japan's crude steel output in the January-March period will increase by 1.9% year-on-year to 24.15 million. tons, thanks to a recovery in the manufacturing sector including shipbuilding and machinery.

In the last Monday trading session of 2021, prices of steelmaking materials such as coking coal and iron ore all turned down due to weak demand in China.

The steel industry has boomed again in 2021, after being severely hurt by the pandemic in 2020, thanks to a strong recovery in demand in downstream markets and strong steel prices.

The Asian steel scrap market is poised for headwinds that will occur in 2022 as key regions such as Vietnam and South Korea remain affected by an increase in Covid-19 infections, which has disrupted the economy. severe disruption of the regional supply chain.

The European Union (EU) will impose additional duties on aluminum foil from China after the European Commission (EC) found that Chinese aluminum producers benefited from excessive subsidies and unfair, the EU's official magazine on Wednesday (December 22) reported.

Iron ore prices on the Asian market ended a series of days of sublimation when turning down on December 22 due to concerns about the impact of anti-Covid-19 restrictions in China and the upcoming unseasonal period for the sector. construction in the world's largest steel producing country.

With the Chinese economy, the world's largest iron ore consuming market, continuing to weaken, analysts generally believe that iron ore prices will decline in 2022.