Iron ore futures rose to their highest in more than a month, supported by China’s renewed efforts to curb low-price competition and cut excess industrial capacity.
Steel prices on the exchange
Rebar on the Shanghai Futures Exchange (SHFE) for January 2026 delivery rose 9 yuan to 3,102 yuan/t.
Iron ore futures rose to their highest in more than a month, supported by China’s renewed efforts to curb low-price competition and cut excess industrial capacity.
The most-traded September iron ore contract on China's Dalian Commodity Exchange (DCE) was up 2.45% at 733 yuan ($102.33) a tonne, its highest since May 16.
Benchmark iron ore for August delivery (SZZFQ5) on the Singapore Exchange rose 1.1% to $96.2 a tonne.
Beijing's pledge to curb low-price competition and reduce excess industrial capacity is a sign that Chinese leaders are looking to address deflationary pressures weighing on the economy , analysts from ANZ said in a note.
The measures are expected to bring some relief to the steel industry, which is struggling with overcapacity, ANZ added.
Rising steel prices have prompted retail traders to take long positions in iron ore futures, anticipating that prices will follow steel higher, said Atilla Widnell, managing director at Navigate Commodities in Singapore.
Chinese Vice Premier Zhang Guoqing has urged local officials in Hebei, the country's top iron ore producing hub, to step up preventive measures ahead of expected heavy rain. The ongoing "plum rain" has caused flash floods and landslides in northern and western China.
The dollar strengthened after a trade deal between the United States and Vietnam boosted optimism for other deals ahead of a July 9 U.S. tariff deadline.
A stronger greenback makes dollar-denominated assets more expensive for holders of other currencies.
Other steelmaking components on the DCE rose, with metallurgical coal and coking coal (DCJcv1) up 3.76% and 2.05% respectively.
Steel benchmarks on the Shanghai Futures Exchange rose. Rebar and hot-rolled coil rose 1.45%, stainless steel rose 0.55% and wire rod (SWRcv1) rose 0.27%.
Domestic steel prices
Domestically, businesses stabilize prices.
In the North, Hoa Phat steel brand, with CB240 rolled steel line at 13,650 VND/kg; D10 CB300 ribbed steel bar 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.
In the Central region, Hoa Phat Steel, with CB240 rolled 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.
In the South, Hoa Phat Steel, CB240 rolled steel, is at 13,790 VND/kg; D10 CB300 ribbed steel is priced at 13,740 VND/kg.
VAS steel, CB240 coil steel line is 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-4-7-quang-sat-bat-tang-manh-381029.html
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