Steel price today April 10: Strong fluctuations after policy...

World steel prices

At the end of the trading session on April 9, the price of rebar for May delivery on the Shanghai Futures Exchange fell another 2.15% (66 yuan/ton) to 3,009 yuan/ton, marking an 8-year low. Similarly, the price of iron ore for May delivery on the Dalian Exchange fell sharply by 3.18% (24 yuan) to 731 yuan/ton, while the price of ore on the Singapore Exchange increased by 0.03 USD to 94.78 USD/ton.

Investors and consumers are concerned that global trade will continue to deteriorate and have a strong impact on the steel market. Especially after the news early this morning (Vietnam time), US President Donald Trump continued to immediately increase tariffs on China to 125% and postpone tariffs for 90 days on more than 75 countries, as well as reduce reciprocal tariffs to 10%.

May rebar futures prices on the SHFE. Source: Barchart

According to Kallanish, from April 7-8, the price of imported 62% Fe standard iron ore in China decreased by 5 USD/ton – down to 96 USD/ton (CFR Qingdao port).

Similarly, the price of high-grade iron ore Fe 65% at Qingdao port also decreased from $114/ton to $109/ton CFR during the same period. Low-grade iron ore Fe 58% decreased by $5/ton to $83/ton CFR.

The derivatives market has reacted to the sharp drop in spot prices. Specifically, on April 8, the futures contract for May delivery on the Singapore Exchange fell by $3/ton. Accordingly, the Fe 62% iron ore contract was quoted at $95/ton, Fe 65 at $108/ton and Fe 58 at $82/ton.

Steel mills in China are now delaying ore purchases, expecting prices to fall further, traders said. This has led to a build-up in ore inventories, forcing miners to accept lower prices.

Market participants are also paying attention to a wave of new trade protectionist measures initiated by the US this spring and supported by many other countries.

This is expected to further worsen the export outlook, especially for finished steel products. As a result, steel mills are becoming more cautious when purchasing raw materials.

Buyer sentiment may also have been affected by an update from the Australian Department of Industry, Science and Resources, which confirmed its earlier forecast in early April that the global average iron ore price would fall to $85 a tonne by 2025, from $95 a tonne in 2024.

Brazilian customs data released in early April also reflected deteriorating prices in global commodity markets. Brazilian iron ore exports rose 8% year-on-year in March and 12% month-on-month to 28.4 million tonnes. However, the average price fell to $71.60 per tonne FOB, down from $92.50 per tonne FOB in March 2024.

As GMK Center previously reported, on April 10, the Customs Tariff Commission of the State Council of China imposed a 34% tariff on all goods imported from the United States. In response, President Donald Trump promised to increase tariffs on Chinese goods by 50%, in addition to the previously imposed tariffs, bringing the total tariff rate to 54%.

Domestic steel prices

Yesterday, construction steel prices at some enterprises were adjusted up. Specifically, the price of Hoa Phat 's CB240 steel was recorded at 13,550 VND/kg, an increase of 20 VND/kg compared to the previous price of 13,530 VND/kg, similarly, CB300 steel increased to 13,600 VND/kg compared to the previous price of 13,580 VND/kg.

Similarly, at Viet Sing Steel, the price of CB240 steel was recorded at 13,450 VND/kg, an increase of 120 VND/kg, similarly, D10 CB300 steel was quoted at 13,650 VND/kg. Meanwhile, Viet Duc steel increased by 60-70 VND for all types, recording D10 C300 at 13,740 VND/kg, and CB240 steel at 13,500 VND/kg.

Steel prices in the North

According to SteelOnline.vn, Hoa Phat steel brand, with CB240 rolled steel line at 13,530 VND/kg; D10 CB300 ribbed steel bar is priced at 13,580 VND/kg.

Viet Y steel brand, CB240 rolled steel line is priced at 13,580 VND/kg; D10 CB300 ribbed steel bar is priced at 13,690 VND/kg.

Viet Duc Steel, with CB240 coil steel line at 13,430 VND/kg, D10 CB300 ribbed steel bar is priced at 13,740 VND/kg.

Viet Sing Steel, with CB240 coil steel, is priced at VND13,330/kg; D10 CB300 ribbed steel is priced at VND13,530/kg.

VAS steel, with CB240 coil steel line at 13,330 VND/kg; D10 CB300 ribbed steel bar is priced at 13,380 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 13,640 VND/kg.

Viet Duc Steel, currently CB240 coil steel is at 13,840 VND/kg; D10 CB300 ribbed steel is priced at 14,140 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 13,530 VND/kg; D10 CB300 ribbed steel is priced at 13,640 VND/kg.

VAS steel, CB240 coil steel line is at 13,380 VND/kg; D10 CB300 ribbed steel bar is priced at 13,480 VND/kg.

Source: https://baodaknong.vn/gia-thep-hom-nay-10-4-bien-dong-manh-sau-chinh-sach-thue-quan-cua-my-248899.html