4,973.87 TL BIST 100 BIST 100
18.64 $ USD USD
€19.57 EUR EUR
10.83 TL Interest Interest
79.57 $ Fossil Oil Fossil Oil
3.80 $ Copper Copper
22.34 $ Silver Silver
108.64 $ Iron Ore Iron Ore
373.00 $ Ship Dismantling Ship Dismantling
1,061.54 TL Gold (gr) Gold (gr)

Iron ore suppresses steel prices

While copper prices decreased due to the concerns of Russia-Ukraine tension, iron ore, which decreased due to the government's concerns about intervention in the market, put pressure on steel prices.

Iron ore suppresses steel prices

Copper prices in London fell amid uncertainty over Ukraine-Russia tensions despite the softening of the dollar.

On the London Metal Exchange, three-month copper traded at $9,983/ton, down 0.1% at 06.11 CET. On the Shanghai Futures Exchange, copper for March delivery rose 0.1% to yuan 71,410/t ($11,277).

On the LME, aluminum was down 0.5% to $3,241.5/tonne and nickel was up 0.3% to $23,465/t.

Aluminum increased 0.7% and nickel 0.4% in ShFE.

Iron ore futures in Dalian also fell for 4th day, suppressing steel prices

In China, benchmark iron ore futures fell more than 5% today for the fourth straight session. Iron ore, which declined due to the government's concerns about intervention in the market, put pressure on steel prices.

Analysts noted that the previous rise in iron ore prices was related to expectations and not much to do with fundamentals, and noted that steelmaking raw material was suppressed by policies.

May futures iron ore fell 5.2% to 675 yuan/t ($106.62) on the Dalian Commodity Exchange. The contract was traded at 688 yuan/tonne, down 3.4% at 06:30 CEST.

On the Shanghai Futures Exchange, rebar fell 1% to 4,734 yuan/t, and hot rolled coil fell 0.8% to 4,859 yuan/t.


No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Iron ore prices rise

Monday, November 21, 2022

Ukraine's iron ore exports decline

Tuesday, November 15, 2022

Iron ore on the rise

Monday, November 14, 2022

New iron ore deposit development from Rio Tinto

Tuesday, October 25, 2022

Iron ore prices decrease sharply!

Friday, October 21, 2022
Follow List
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.

There are no news categories you follow
Edit Notification Preferences

Global Iron and Steel Exchanges

Iron and Steel Indices, Price and News

E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now