The price of steel bars delivered in May 2020 on the Shanghai Exchange increased 26 yuan to 3,569 yuan / ton at 8:30 (Vietnam time).
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Iron ore prices ended 2019 with the largest annual increase in 3 years
Construction steel prices today
The price of steel bars delivered in May 2020 on the Shanghai Exchange increased 26 yuan to 3,569 yuan / ton at 8:30 (Vietnam time).Construction steel bar contracts are the most traded on the Shanghai Stock Exchange ended Tuesday (31/12) up 0.7% while hot rolled steel prices rose 0.8%, according to Reuters.
The price of iron ore futures increased in the last session of 2019, with an increase of nearly 141% this year, outperforming other commodities due to supply disruptions and stable demand for raw materials in China.Iron ore contract delivered in May 5/2020 increased by 0.5% to 648.5 yuan / ton (equivalent to 93.03 USD / ton) in the context of steel futures prices more stable.
On the Singapore Exchange, the iron ore contract for delivery in January 2020 rose 1.2% to US $ 91.25 / ton.Prices of iron ore 62% content delivered to China increased 1 USD to 93 USD / ton on Monday (December 30), recorded an increase of 28% this year and reached a peak of 126.5 USD / ton on the day. 3/7, SteelHome data shows:
This happened in the context of the Vale SA dam failure in January and the company was closed for safety inspections.Spot ore prices have fallen back in the second half of the year when stable shipments returned boosting supply in the market. Prices may weaken further next year, depending in part on how well exports from Brazil will recover completely.China’s crude steel output rose 1.9% in November from the previous month as factories took advantage of strong profits and demand.China’s crude steel output in 2019 was initially forecast to reach a record of 988 million tons but will drop to 981 million tons in the context of economic recession, according to the Institute of Metallurgical Industry Planning and Consulting. .Coal price rose 1.0% and coke price rose 1.3%.
Stainless steel price increased by 2.0%. Iron ore is the best performing product in 2019 in China. Production activities in China will continue to expand in December. The Shanghai and Dalian Commodity Exchanges are closed today for the New Year holiday. Trading will resume on January 2.
Source: Vietnambiz
