World steel prices
At the end of the trading session on June 18, the price of steel rebar for July delivery on the Shanghai Stock Exchange increased by 0.13% (4 yuan) to 3,016 yuan/ton. On the Dalian Stock Exchange, the price of iron ore for July delivery on the Dalian Stock Exchange decreased by 0.27% (1.5 yuan) to 728 yuan/ton. Similarly, the price of iron ore for July delivery on the Singapore Stock Exchange decreased by 1.29 USD to 92.78 USD/ton.
Iron ore prices eased slightly as investors weighed mixed economic data from China, the world’s largest iron ore consumer. However, steady profit margins at Chinese steel mills provided some support.
Specifically, the production and consumption situation in China shows that new home prices in the country fell 0.2% in May compared to April, showing that the real estate sector remains stagnant despite many rounds of government policy support. Industrial production growth in May also hit a six-month low. However, retail sales - a consumer index - recovered, bringing some temporary positive signals.
Amid competitive steel prices, most blast furnaces are still maintaining production thanks to high profits. According to consultancy Mysteel, as of June 12, about 60% of blast furnace steel mills in China were operating at positive profit margins. “Blast furnace steel production is at its peak, but with profits still good, mills have no incentive to cut production,” said brokerage Galaxy Futures.
In addition, prices of other steelmaking raw materials on the Dalian Commodity Exchange (DCE) such as coking coal and coke rose 1.81% and 1.04% respectively, while a stronger US dollar due to safe-haven demand amid Middle East geopolitical tensions put downward pressure on US dollar-denominated commodities, including iron ore.
Starting June 23, the US will impose a 50% tariff on a range of imported home appliances such as dishwashers, washing machines and refrigerators – part of measures to expand steel tariffs under former President Trump’s policies, increasing trade tensions and potentially affecting steel demand.
In a related development, steelmaker Cleveland-Cliffs announced July order prices for hot-rolled coil (HRC) at $950/mt, up $40/mt (4.4%) from June prices of $910/mt.
However, June prices had fallen by $65/ton (~7%) compared to May. The US HRC market recorded a sharp decline in May with average prices falling 7.1% compared to April to $885/ton, due to weak demand, low scrap prices and sluggish trading activity after the "panic buying" period in March–April.
Some major producers such as Nucor, which had lowered prices by $60–$70 per ton in April–May, have started to increase prices again since early June. However, most market participants still expect prices to continue to decline gradually in the summer, despite small positive signs of demand.
Domestic steel prices
Domestically, businesses keep steel prices stable. Specifically, the price of Hoa Phat's CB240 steel is recorded at 13,650 VND/kg; CB300 steel is quoted at 13,790 VND/kg. Similarly, at Viet Duc Steel, the price of CB240 steel is at 13,350 VND/kg; D10 CB300 steel is priced at 13,350 VND/kg. For Thai Nguyen steel, the price of CB240 steel remains at 13,970 VND/kg and D10 CB300 at 14,080 VND/kg.
Steel prices in the North: According to SteelOnline.vn, Hoa Phat steel brand, with CB240 steel coil line at 13,650 VND/kg; D10 CB300 ribbed steel bar at 13,790 VND/kg; Viet Y steel brand, CB240 steel coil line at 13,890 VND/kg; D10 CB300 ribbed steel bar at 13,990 VND/kg; Viet Duc steel, with CB240 steel coil line at 13,550 VND/kg, D10 CB300 ribbed steel bar at 13,550 VND/kg; Viet Sing steel, with CB240 steel coil line at 13,690 VND/kg; D10 CB300 ribbed steel bar at 13,580 VND/kg; VAS steel, with CB240 steel coil line at 13,740 VND/kg; D10 CB300 rebar steel costs 13,740 VND/kg.
Steel prices in the Central region: Hoa Phat Steel, with CB240 coil steel line, at 13,530 VND/kg; D10 CB300 ribbed steel bar is priced at 13,530 VND/kg; Viet Duc Steel, currently CB240 coil steel line is priced at 14,050 VND/kg; D10 CB300 ribbed steel bar is priced at 14,000 VND/kg; VAS Steel, CB240 coil steel line is priced at 13,740 VND/kg; D10 CB300 ribbed steel bar is priced at 13,790 VND/kg.
Steel prices in the South: Hoa Phat Steel, CB240 rolled steel, at 13,790 VND/kg; D10 CB300 ribbed steel bar at 13,740 VND/kg; VAS Steel, CB240 rolled steel line at 13,740 VND/kg; D10 CB300 ribbed steel bar at 13,840 VND/kg.
Source: https://baodaknong.vn/steel-price-hom-nay-19-6-bien-dong-nhe-truoc-du-lieu-kinh-te-tu-trung-quoc-256028.html
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