Steel price today October 14: iron ore down

Báo Đô thịBáo Đô thị14/10/2024


Iron ore futures fell after China failed to announce a new fiscal stimulus package to support its economy.
Iron ore futures fell after China failed to announce a new fiscal stimulus package to support its economy.
Steel prices in the North

According to SteelOnline.vn, Hoa Phat steel brand, with CB240 rolled steel line at 13,580 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 13,530 VND/kg; D10 CB300 ribbed steel bar is priced at 13,640 VND/kg.

Viet Duc Steel, with CB240 coil steel line at 13,530 VND/kg, D10 CB300 ribbed steel bar is priced at 13,890 VND/kg.

Viet Sing Steel, with CB240 coil steel priced at 13,500 VND/kg; D10 CB300 ribbed steel bar priced at 13,700 VND/kg.

VAS steel, with CB240 coil steel line at 13,500 VND/kg; D10 CB300 ribbed steel bar is priced at 13,600 VND/kg.

Steel prices in the Central region

Hoa Phat Steel, with CB240 coil steel down to 13,580 VND/kg; D10 CB300 ribbed steel bar priced at 13,790 VND/kg.

Viet Duc Steel, currently CB240 coil steel is at 13,990 VND/kg; D10 CB300 ribbed steel is priced at 14,190 VND/kg.

VAS Steel currently sells CB240 coil steel at 13,650 VND/kg; D10 CB300 ribbed steel bar is priced at 13,700 VND/kg.

Pomina steel, with CB240 coil steel line at 14,180 VND/kg; D10 CB300 ribbed steel bar is priced at 14,180 VND/kg.

Steel prices in the South

Hoa Phat Steel, CB240 rolled steel at 13,580 VND/kg; D10 CB300 ribbed steel reduced to 13,790 VND/kg.

VAS steel, CB240 coil steel line is at 13,500 VND/kg; D10 CB300 ribbed steel bar is priced at 13,600 VND/kg.

Pomina steel, CB240 coil steel line is at 13,970 VND/kg; D10 CB300 ribbed steel bar is priced at 13,970 VND/kg.

Steel prices on the exchange

Rebar on the Shanghai Futures Exchange (SHFE) for June 2025 delivery rose 56 yuan to 3,569 yuan/t.

Iron ore futures fell after China failed to announce a new fiscal stimulus package to support its economy.

At a press conference on Saturday, China’s finance ministry pledged more support for the crisis-hit property sector and indebted local governments, and hinted at a government-led expansion of borrowing. But the measures were not accompanied by specific spending proposals, which investors expect could total 2 trillion yuan ($283 billion).

Iron ore fell 0.8% to $105.40 a tonne on the Singapore Exchange. Futures for the steelmaking material have surged this year, rising above $140 a tonne in January before falling below $90 last month.

Metal prices have rallied in recent weeks after Beijing unleashed a series of monetary interventions to support growth. But commodity investors have called for further fiscal measures, which have a more direct impact on materials consumption and are needed to replace demand lost from China’s protracted property downturn.

The housing crisis has forced the sector to shrink in importance for China’s steel mills, with construction accounting for 24% of consumption by 2023 from 42% in 2011, according to mining giant BHP Group Ltd. By contrast, machinery manufacturing has grown from 20% to 30% over that time, while steel exports have surged in the past two years.



Source: https://kinhtedothi.vn/gia-thep-hom-nay-14-10-quang-sat-giam.html

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