Corporate revenue increases and decreases in opposite directions

Steel prices on the exchange

Steel price today, May 11, 2024: Steel price for September 2024 delivery on the Shanghai Stock Exchange increased by 10 yuan to 3,510 yuan/ton.

The September DCIOcv1 iron ore contract on China's Dalian Commodity Exchange (DCE) closed 1.7% lower at 865.50 yuan ($119.79) a tonne.

However, the benchmark SZZFM4 iron ore price for June delivery on the Singapore Exchange increased by 0.1% to $114.85/ton.

Other steelmaking raw materials on the DCE fell, with coking coal DJMcv1 down 2.4% to 1,769.50 yuan/t and coke DCJcv1 down 2.1% to 2,297 yuan/t.

Steel price today May 11, 2024: Business revenue increases and decreases in opposite directions

Benchmark steel prices on the Shanghai Futures Exchange (SHFE) mostly fell but remained above technical support levels, traders said, adding that whether they can sustain above those levels depends on physical demand.

Rebar SRBcv1 on the SHFE fell 0.9% to 3,669 yuan/t, hot-rolled coil SHHCcv1 fell 0.7% to 3,807 yuan, rebar SWRcv1 fell 0.7% to 3,884 yuan, while stainless steel SHHScv1 rose 0.2% to 14,185 yuan.

Steel prices in the domestic market

As predicted by analysts at the beginning of the year, a series of large and small enterprises in the steel industry happily reported profits growing by tens and hundreds of percent compared to the same period last year. However, a small number of them have not been able to overcome the difficult period of the steel industry.

In the first quarter of 2024, the steel industry giant, Hoa Phat Group Joint Stock Company, reported a 16% increase in net revenue over the same period, reaching VND30,852 billion. Of which, the steel segment is still the biggest driving force of the enterprise, accounting for 93% of consolidated revenue, the rest is agriculture and real estate.

In addition, in the first quarter, many steel enterprises have not yet achieved a recovery level equivalent to the optimistic context of the industry. Tien Len Steel Group Joint Stock Company recorded a record low profit, reaching only 953 million VND compared to nearly 6.3 billion VND in the same period due to reduced sales volume and increased costs.

Accordingly, TLH's first quarter net revenue decreased by 11.9% compared to the same period in 2023, reaching more than VND 1,261 billion. Gross profit decreased by 13%, reaching VND 42.4 billion because the average cost of goods sold was still relatively high.

Today's steel prices in the domestic market have not fluctuated. According to a survey on Steel Online, today's steel prices on May 11, 2024, specifically:

Steel prices in the North

Hoa Phat steel price for CB240 coil steel is at 14,040 VND/kg; D10 CB300 ribbed steel is at 14,430 VND/kg.

The price of Viet Y steel, with CB240 coil steel line decreased by 100 VND/kg, down to 14,040 VND/kg; D10 CB300 ribbed steel bar also decreased by 100 VND/kg, down to 14,540 VND/kg.

Viet Duc steel price for CB240 coil steel decreased by 100 VND/kg, down to 13,940 VND/kg, D10 CB300 ribbed steel decreased by 10 VND/kg, down to 14,630 VND/kg.

The price of Viet Nhat Steel (VJS), with CB240 steel line decreased by 100 VND/kg, down to 14,110 VND/kg, with D10 CB300 steel line maintained at 14,310 VND/kg.

Kyoei Vietnam Steel (KVSC) price for CB240 coil steel decreased by 100 VND/kg, down to 13,970 VND/kg, for D10 CB300 ribbed steel bar decreased by 100 VND/kg, down to 14,270 VND/kg

Vietnam-America Steel (VAS) price, with CB240 rolled steel line stable at 14,110 VND/kg, with D10 CB300 ribbed steel line stable at 14,210 VND/kg.

Steel prices in the Central region

Steel prices in the Central region today decreased by 100 VND/kg for some steel brands. Specifically:

Hoa Phat steel price, with CB240 coil steel line decreased by 100 VND/kg to 14,040 VND/kg; D10 CB300 ribbed steel bar decreased by 100 VND/kg to 14,390 VND/kg.

Viet Duc steel price, with CB240 coil steel line decreased by 100 VND/kg, down to 14,440 VND/kg; D10 CB300 ribbed steel bar decreased by 100 VND/kg, down to 14,750 VND/kg.

Vietnam-America Steel (VAS) prices, with CB240 coil steel stable at 14,210 VND/kg; D10 CB300 ribbed steel bar stable at 14,670 VND/kg.

Pomina steel price, with CB240 coil steel stable at 14,690 VND/kg; D10 CB300 rebar steel stable at 15,300 VND/kg.

Steel prices in the South

Steel prices in the South today also decreased by 100 VND/kg. Specifically:

Hoa Phat steel price, with CB240 coil steel line decreased by 100 VND/kg, down to 14,040 VND/kg; D10 CB300 ribbed steel bar decreased by 100 VND/kg, down to 14,430 VND/kg.

Pomina steel price with CB240 coil steel line is stable at 14,590 VND/kg; D10 CB300 rebar steel is stable at 15,300 VND/kg.

Viet My Steel (VAS), with CB240 coil steel stable at 14,010 VND/kg; D10 CB300 ribbed steel at 14,410 VND/kg.

Tung Ho Steel, with CB240 coil steel line stable at 14,210 VND/kg, with D10 CB300 rebar steel line at 14,510 VND/kg.

Information is for reference only, actual prices will vary by location!

Source: https://congthuong.vn/gia-thep-hom-nay-ngay-1152024-doanh-thu-doanh-nghiep-tang-giam-trai-chieu-319422.html