Steel price today April 14: Market is sideways

World steel prices

At the opening of the trading session on April 14, the price of rebar for May delivery on the Shanghai Futures Exchange was flat at around 3,045 yuan/ton. Meanwhile, the price of iron ore for May delivery on the Dalian Commodity Exchange increased by 3 yuan to 758 yuan/ton, while the price of ore on the Singapore Commodity Exchange was flat at 97.12 USD/ton.

The trade war between the US and China has been escalating since early February. Now, if the situation does not really cool down, Chinese and American consumers and companies will face higher prices as they have to bear the tariffs, and supply chains will need to change.

May rebar futures prices on the SHFE. Source: Barchart

In another development, in Japan, JFE Steel – the second largest steelmaker wants to invest 329.4 billion yen (equivalent to 2.26 billion USD) to build a large-scale modern electric arc furnace (EAF) at the Kurashiki facility, part of the West Japan Works complex. This information was given by the company in an official announcement, according to GMK Center.

As mentioned, the company made this decision after the Japanese government approved a 104.5 billion yen subsidy for JFE Steel to support the implementation of the electric arc furnace project.

The EAF will incorporate JFE Steel’s patented technologies and other innovative solutions, including high-performance and high-quality metallurgy technologies. These technologies are being developed under a separate initiative to promote the use of hydrogen as the primary reducing agent. The initiative is part of the Green Innovation Fund (GI Fund) projects organized by Japan’s Energy and Industrial Technology Development Organization (NEDO).

The advanced electric arc furnace is expected to have an annual production capacity of about 2 million tons, and is expected to begin operations between April and June 2028. The project also includes the construction of other facilities such as a modernized port.

The construction of the electric arc furnace is part of the company's efforts to reduce carbon emissions. In May 2021, JFE Group outlined its environmental vision for 2050. Going forward, JFE Steel is committed to developing ultra-innovative technologies that contribute to global sustainable development.

JFE Steel's EAF project received government support late last year. The proposal was selected as part of a program to support the energy and manufacturing transition for industries that are difficult to decarbonize.

Domestic steel prices

The domestic steel market has recorded stable developments in recent days. In the Northern region , major brands such as Hoa Phat, Viet Duc, VAS and Viet Sing have kept their prices unchanged compared to the beginning of the month.

According to SteelOnline.vn, Hoa Phat steel brand, with CB240 rolled steel line at 13,550 VND/kg; D10 CB300 ribbed steel bar is priced at 13,600 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 13,500 VND/kg, D10 CB300 ribbed steel bar is priced at 13,800 VND/kg.

In the Central region , Viet Sing Steel, with CB240 rolled steel, costs 13,450 VND/kg; D10 CB300 ribbed steel is priced at 13,650 VND/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.

Hoa Phat Steel, with CB240 coil steel line, is at 13,630 VND/kg; D10 CB300 ribbed steel bar is priced at 13,750 VND/kg.

Viet Duc Steel, currently CB240 coil steel is at 13,800 VND/kg; D10 CB300 ribbed steel is priced at 14,200 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.

In the southern region , the price of Hoa Phat steel, CB240 rolled steel, is at 13,550 VND/kg; D10 CB300 ribbed steel is priced at 13,650 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-14-4-thi-truong-di-ngang-249301.html