The Logistician
  • Tiếng ViệtTiếng Việt
  • What to read today?
  • Knowledge
  • Insight
  • Podcast
  • Blog
  • Document
VIẾT BLOG
  • Login
  • Register
No Result
View All Result
  • What to read today?
  • Knowledge
  • Insight
  • Podcast
  • Blog
  • Document
VIẾT BLOG
  • Tiếng ViệtTiếng Việt
  • Login
  • Register
No Result
View All Result
The Logistician
No Result
View All Result

China: Iron ore prices expected to soar as the economy stabilizes

The Chinese side committed to continue the prudent monetary policy and proactive fiscal policy, and prioritize stability in 2022. This helped iron ore futures increase by over 5% on Monday, after the previous two consecutive declines.

edt292 by edt292
14/12/2021
in Blog
rb

Image: Hai Ngoc

HIGHLIGHTS

  • The price of iron ore for delivery in May 2022 on the Dalian Commodity Exchange increased by 5.3% to 671 yuan.
  • China will implement new tax and fee cuts and front-load infrastructure investment.
  • In addition, the price of iron ore in China jumped sharply when many steel manufacturers increased ore reserves.

FULL ARTICLE

Iron ore prices soar again

Closing the latest session, the price of iron ore for delivery in May 2022 on the Dalian Commodity Exchange, increased by 5.3% to 671 yuan (equivalent to 105.46 USD/ton). According to the consulting firm SteelHome, the spot price of iron ore containing 62% iron content in China fell 1 USD down to 108 USD/ton in the session on December 10.

china-iron-ore-chart
Iron ore chart at Shanghai Exchange (Source: Shfe)

At the same session, the price of iron ore delivered in May 2022 on the Shanghai Exchange increased by 3 yuan (equivalent to 4,310 yuan/ton). Used construction rebar on this floor increased 1.6% (to 4,374 yuan/ton) and hot-rolled coil used in cars and household appliances increased by 1.4% (about 4,501 yuan/ton).

According to data from Mysteel, other steelmaking raw materials traded in a range as capacity utilization rates at blast furnaces with 247 mills continued to decline, falling to 74.12% last week.

The reason why iron ore prices bounced up

“The supply-side of iron ore is not expected to see big change next year, with shipments from mainstream miners to remain stable while output from domestic mines sees little change,” said Cheng Peng, an analyst with SinoSteel Futures.

china-iron-ore
Iron ore supply is not expected to change much next year

With prudent monetary policy and proactive fiscal policy, China will maintain “a stable and healthy economic environment” next year. The world’s second-largest economy will implement new tax and fee cuts and front-load infrastructure investment, step up cross-cyclical policy adjustments and support key areas.

In addition, the price of iron ore in China jumped sharply when many steel manufacturers in this country increased ore reserves. Meanwhile, analysts say that China’s iron ore demand is still weak as investment in infrastructure development and real estate declines, keeping steel demand at a low level.

Thanh Thao

China: Exploding used luxury goods market

Source: reuters.com
Tags: chinaIroniron ore

Related Posts

​​Shell and CMA CGM signed an agreement to supply LNG fuel in Singapore

​​Shell and CMA CGM signed an agreement to supply LNG fuel in Singapore

01/07/2022
0
Private: TP Hồ Chí Minh xem xét chuyển đổi mục đích sử dụng một số khu công nghiệp sang logistics

Ho Chi Minh City considers converting some industrial parks into logistics

29/06/2022
0
Image: Thu Trang

DB Schenker’s agreement to acquire USA Truck

28/06/2022
0
Finding new suppliers after the unprecedented “Chicken-rice crisis” in Singapore

Finding new suppliers after the unprecedented “Chicken-rice crisis” in Singapore

22/06/2022
0
FedEx invests in FourKites to build intelligent supply chain platform

FedEx invests in FourKites to build intelligent supply chain platform

22/06/2022
0
LG Electronics “shake hand” with CJ Logistics to develop logistics robots

LG Electronics “shake hand” with CJ Logistics to develop logistics robots

19/06/2022
0

ĐỀ XUẤT NÊN ĐỌC

Lũ lụt ở Trung Quốc gián đoạn chuỗi cung ứng dược phẩm và đồ bảo hộ cá nhân. Chủ hàng nên chuẩn bị cho các kế hoạch chậm hàng

Flooding in China disrupts medical, PPE suppliers. Shippers should expect delays

3 years ago
0
Russia triumphs in the global food upheaval it contributed to

Russia triumphs in the global food upheaval it contributed to

10 months ago
0
Các hãng tàu ngày càng thắt chặt thời hạn thanh toán…

Shipping lines tighten up credit terms for ‘financially risky’ NVOCCs

3 years ago
0
Tự động hóa cảng biển: Nhân tố giúp giảm rủi ro trong chuỗi cung ứng Hoa Kỳ?

Port automation: A factor to reduce risk in the US supply chain?

1 year ago
0
ADVERTISEMENT

THẺ NỔI BẬT

ACQUISITIONaircraftAirlineairlinesamazonAppleblockchainBoeingchinaCMA CGMcontainerContainer shortageCovid-19covid19crisisDHLe-commerceEVFTAexportfedexgoodsinfrastructureInvestmentLNGlogisticsLogistics centerM&Amaerskportport congestionRAILWAYRussiaRussia-Ukraineseasupply chainSupply chain disruptiontechnologyThai AirwaysthailandtransportusvietnamVietnam AirlineswalmartWarehouse
ADVERTISEMENT

TIN TỨC PHỔ BIẾN

  • Uniqlo Supply Chain Management

    Uniqlo Supply Chain Management

    0 shares
    Share 0 Tweet 0
  • Certificates that advance your career in Logistics and supply chain management

    0 shares
    Share 0 Tweet 0
  • How Aviation Fuel Differs From Regular Fuel

    0 shares
    Share 0 Tweet 0
  • Cross-docking: The key to Walmart’s great success

    0 shares
    Share 0 Tweet 0
Facebook Twitter Youtube RSS
The Logistician

© 2021 Copyright The Logistician - Designed by Đông Đô Media.,JSC.

  • Login
  • Sign Up
  • What to read today?
  • Knowledge
  • Insight
  • Podcast
  • Blog
  • Document
  • Tiếng ViệtTiếng Việt

© 2021 Copyright The Logistician - Designed by Đông Đô Media.,JSC.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

-
00:00
00:00

Danh sách

Update Required Flash plugin
-
00:00
00:00