Hanoi Iron and Steel (HSV) – Steel price today dropped to 3,788 yuan/ton on the Shanghai Exchange. On Tuesday (July 19), Vale SA - Brazil's leading mining company, cut its 2022 iron ore production forecast. Construction iron and steel prices today on the Shanghai Exchange
Construction iron and steel prices today on the Shanghai Exchange
Today's steel price for delivery in October 2022 on the Shanghai Exchange decreased by 17 yuan to 3,788 yuan/ton at the time of the survey at 9:30 a.m. (Vietnam time).
Type nameExpirationJuly 21Difference compared to previous transaction
Steel price Delivered October 2023,788-17
Copper price Delivered September 2020256,050-140
Zinc price Delivered August 202222.745+110
Nickel price Delivered August 2022 167,550+6,620
Silver price Delivered in December 202024.126-16
Futures trading price list of some metals on the Shanghai Stock Exchange (Unit: yuan/ton). Summary: Thao Vy
On Tuesday (July 19), Vale SA - Brazil's leading mining company, cut its 2022 iron ore production forecast, Reuters reported.
The cause comes from the sale of assets of the Center-West system, limitations in the supply chain in the Northern system and the impact of the decline in market prices.
Vale is one of the world's largest mining companies. The company expects iron ore production for the year to be around 310 - 320 million tonnes, down from the previous estimate of 320 - 335 million tonnes.
The decline partly reflects Vale's April agreement to sell a manganese and iron ore mine in central Brazil, with an enterprise value of about $1.2 billion, to parent company J&F Investimentos.
At the same time, this decrease also serves to explain Vale's greater production flexibility due to current market conditions, with iron ore prices falling to their highest level from 2021 due to lower demand risks from major buyer China.
“Vale recorded a quarter with numbers that disappointed most of our forecasts,” said Ativa Investimentos analyst Ilan Arbetman. Much of the decline has been reflected in Vale shares, which are down about 20% since the beginning of June.”
The company also cut its 2022 copper production estimate to 270,000 - 285,000 tons due to longer-than-expected maintenance at one of its locations and separately scheduled maintenance at another location. The previous forecast was about 330,000 - 355,000 tons.
Iron ore output in the second quarter was 74.11 million tons, down slightly from 75.68 million tons a year earlier. However, output at Vale's key northern system fell 10.2% to 39.07 million tonnes, amid supply chain constraints.
Construction steel price today in the domestic market
Northern steel price list today:
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