Continued decline due to weak steel demand in China

Steel prices on the Shanghai Futures Exchange continued to fall.

Steel prices in the North

According to SteelOnline.vn, Hoa Phat steel brand, with CB240 rolled steel line at 13,940 VND/kg; D10 CB300 ribbed steel bar is priced at 14,440 VND/kg.

Viet Y Steel brand, CB240 rolled steel line stops at 14,090 VND/kg; D10 CB300 ribbed steel bar is priced at 14,340 VND/kg.

Viet Duc Steel simultaneously reduced the price of 2 of its products, with CB240 rolled steel at 14,040 VND/kg, and D10 CB300 ribbed steel at 14,540 VND/kg.

Viet Sing Steel, with CB240 coil steel priced at 13,850 VND/kg, D10 CB300 ribbed steel remains at 14,210 VND/kg.

VAS steel, with CB240 coil steel down to 14,160 VND/kg; D10 CB300 ribbed steel bar priced at 14,110 VND/kg.

Steel prices in the Central region

Hoa Phat Steel, with CB240 coil steel line remaining at 13,990 VND/kg; D10 CB300 ribbed steel bar priced at 14,440 VND/kg.

Viet Duc Steel, currently CB240 coil steel is at 14,490 VND/kg; D10 CB300 ribbed steel is priced at 14,900 VND/kg.

VAS steel, currently CB240 coil steel is at 14,210 VND/kg; D10 CB300 ribbed steel is priced at 14,260 VND/kg.

Pomina steel, with CB240 coil steel line at 14,690 VND/kg; D10 CB300 ribbed steel bar is priced at 15,300 VND/kg.

Steel prices in the South

Hoa Phat Steel, CB240 rolled steel is at 13,990 VND/kg; D10 CB300 ribbed steel is priced at 14,440 VND/kg.

VAS steel, CB240 coil steel line is at 14,310 VND/kg; D10 CB300 ribbed steel bar is priced at 14,210 VND/kg.

Pomina steel, CB240 coil steel line is at 14,590 VND/kg; D10 CB300 ribbed steel bar is priced at 14,990 VND/kg.

Steel prices on the exchange

The price of rebar futures on the Shanghai Futures Exchange (SHFE) for February 2025 delivery fell 2 yuan to 3,611 yuan/ton.

Iron ore futures extended losses for a fourth straight session, weighed down by seasonally weak steel demand in top consumer China, although improving steel margins and solid consumption of the key steelmaking raw material limited losses.

The most-traded September iron ore contract on China's Dalian Commodity Exchange (DCE) traded 0.69% lower at 795.5 yuan ($109.53) a tonne.

Benchmark iron ore for July delivery on the Singapore Exchange fell 0.19% to $102.4 a tonne.

Iron ore prices have been under downward pressure as steel demand remains weak and expectations of steel output cuts persist, analysts at SOOCHOW Futures said.

High port inventories are another headwind for iron ore, analysts at Maike Futures said.

“Despite the continued price decline, some traders remain confident in the market amid high hot metal output, which means that at least in the short term, ore demand will be stable,” said a trader based in North China who declined to be named.

Hot metal output is likely to rise further this week, data from consultancy Shanghai Metals Market showed.

Other steelmaking raw materials on the DCE decreased, with coking coal and coke falling 0.81% and 0.32% respectively.

Steel futures on the Shanghai Futures Exchange fell. Rebar fell 0.42%, hot-rolled coil fell 0.16%, wire rod fell 0.69% and stainless steel fell 0.11%.

“Demand (for steel products) is not very good as heavy rains have affected both transportation and construction site operations,” said a steelmaker based in southern China.

Source: https://kinhtedothi.vn/gia-thep-hom-nay-26-6-tiep-tuc-giam-do-nhu-cau-thep-yeu-o-trung-quoc.html