Steel price today April 13: Slight increase

World market

At the end of the weekend trading session, the May rebar futures price on the Shanghai Futures Exchange rose slightly by 0.07% (2 yuan/ton) to 3,044 yuan/ton. Similarly, the May iron ore futures price on the Dalian Commodity Exchange rose by 0.6% (4.5 yuan) to 753 yuan/ton, while the ore price on the Singapore Exchange fell slightly by 0.02 USD to 97.12 USD/ton.

Compared to the end of last week, steel prices on the Shanghai, Dalian and Singapore exchanges decreased by 3.8%, 4.5% and 3.4% respectively.

Due to the impact of global and Vietnamese tariff tensions, construction steel prices at some businesses have been adjusted upward.

Iron ore prices posted weekly losses as escalating trade tensions between the US and China clouded the outlook for demand. Both the US and China have raised tariffs on imports by up to 125%.

Many fear that the prolonged US-China tensions will have a severe impact on the steel market. Meanwhile, according to analysts at ANZ, trade tensions show no signs of abating and in the worst case scenario, this could push the global economy into recession.

The situation continued to put pressure on the general metal market sentiment, despite a brief "breath of relief" after Mr. Trump unexpectedly announced a 90-day suspension of high tariffs for partners that do not retaliate.

In China, according to Kallanish, leading steelmaker Baosteel announced that it would keep its domestic flat steel prices unchanged in May, at the same level as in April.

This is the second consecutive month that the company has kept its offer prices unchanged. The decision applies to all of Baosteel’s flat steel products, including hot-rolled and cold-rolled coils and coated products.

Baosteel also kept its hot-dip galvanized steel selling prices unchanged in May, amid mixed trends in SHFE HRC futures, affected by weak domestic steel demand.

In February, Baosteel raised the selling price of flat steel products in March by 100 yuan/ton (equivalent to 14 USD/ton) to anticipate the peak consumption season.

Other steel mills in East Asia, especially in Japan, have yet to announce their May price plans, and are likely to follow Baosteel.

In late March, five key Chinese government agencies jointly issued a new regulation to strengthen controls on steel exports and tax compliance. The goal is to curb steel sales abroad at too low a price.

Domestic market

Due to the impact of global and Vietnamese tariff tensions, construction steel prices at some businesses have been adjusted upward.

Specifically, the price of Hoa Phat's CB240 steel is recorded at 13,550 VND, an increase of 20 VND compared to the old price of 13,530 VND, similarly, CB300 steel is priced at 13,600 VND compared to the previous price of 13,580 VND.

Similarly, at Viet Sing Steel Enterprise, CB240 steel price was recorded at 13,450 VND, an increase of 120 VND, similarly, D10 CB300 steel price was quoted at 13,650 VND.

Meanwhile, Viet Duc steel increased by 60-70 VND for all types, recording D10 C300 at 13,740 VND, and CB240 steel at 13,500 VND.

Source: https://baodaknong.vn/gia-thep-hom-nay-13-4-tang-nhe-249218.html