Shanghai rebar and SGX iron ore prices improved on tight supplies, but the outlook depends on demand from China and global volatility.
World steel prices
At the end of the trading session on July 2, the price of steel rebar for July delivery on the Shanghai Stock Exchange increased by 1% (30 yuan) to 3,018 yuan/ton. On the Dalian Stock Exchange, the price of iron ore for July delivery decreased by 1.18% (8.5 yuan) to 710.5 yuan/ton. Meanwhile, the price of iron ore for July delivery on the Singapore-SGX Exchange increased by 1.9 USD to 95.25 USD/ton.
Iron ore futures on the Singapore Exchange rose in midweek trade as supplies from the world’s two largest exporters, Australia and Brazil, fell sharply. Lower shipments from both countries have weighed on global trading volumes, according to brokerage Everbright Futures. However, gains were capped by a prolonged weakness in China’s property market, a key driver of steel and raw material consumption.
In addition, pig iron output continued to increase compared to the previous month, indicating that steel production has not shown any signs of slowing down. In addition, positive data from the official PMI and Caixin PMI for June showed that China's manufacturing sector is recovering, reaching its highest level since November 2024. This brings hope for stable demand for raw materials in the coming period.
However, the real estate situation – the largest consumer of steel – remains a major bottleneck. Old home prices in China continued to fall at a faster pace in June, while new home prices increased at a slower pace. This makes the outlook for consumption of construction steel and related products face many uncertainties.
On the other hand, the global steel market is showing divergence. In Türkiye, the metallurgical industry is making its mark with a sharp increase in steel exports amid declining domestic production and consumption. According to the Turkish Steel Manufacturers Association (TCUD), the country’s steel product exports in the first five months of this year reached 6.3 million tons, up 18% year-on-year, with revenue of $4.3 billion (+7.9%). In May alone, exports increased by 21.1% in volume and 9.2% in value.
In contrast, metal imports increased sharply, especially from China and Russia, putting competitive pressure on domestic products. Total imports in the first five months of the year reached 7.5 million tons, up 6%, while value decreased slightly due to lower import prices. This caused the import-export coverage ratio to decrease from 80.7% to 71%, reflecting the trade imbalance.
Despite a slight 1.4% year-on-year decline in domestic steel output, Türkiye retained its position as Europe’s largest steel producer and the seventh largest globally, thanks to a strategy of boosting exports amid weak domestic demand. However, oversupply and low-price competition are threatening the performance of producers.
The volatility in both global supply and domestic demand in China and Türkiye suggests that the global steel and iron ore markets are entering a period of major adjustment. In the short term, iron ore prices may continue to be affected by the mixed effects of tight supply and uneven demand in key markets.
Domestic steel prices
According to SteelOnline.vn, the price of steel in the North is listed at 13,650 VND/kg for Hoa Phat steel brand, CB240 rolled steel; D10 CB300 ribbed steel is priced at 13,790 VND/kg.
Viet Y Steel brand, CB240 rolled steel line is priced at 13,890 VND/kg; D10 CB300 ribbed steel bar is priced at 13,990 VND/kg.
Viet Duc Steel, with CB240 coil steel line at 13,550 VND/kg, D10 CB300 ribbed steel bar is priced at 13,550 VND/kg.
Viet Sing Steel, with CB240 coil steel, is priced at VND13,690/kg; D10 CB300 ribbed steel is priced at VND13,580/kg.
VAS steel, with CB240 coil steel line at 13,740 VND/kg; D10 CB300 ribbed steel bar is priced at 13,740 VND/kg.
Steel prices in the Central region: Hoa Phat Steel, with CB240 coil steel line, is at 13,530 VND/kg; D10 CB300 ribbed steel bar is priced at 13,530 VND/kg.
Viet Duc Steel, currently CB240 rolled steel is at 14,050 VND/kg; D10 CB300 ribbed steel is priced at 14,000 VND/kg.
VAS steel, CB240 coil steel line is 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 is priced at 13,740 VND/kg. VAS Steel, CB240 rolled steel line is priced at 13,740 VND/kg; D10 CB300 ribbed steel bar is priced at 13,840 VND/kg.
Source: https://baolamdong.vn/gia-thep-hom-nay-3-7-tang-1-nguoc-chieu-quang-sat-380902.html
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