Steel price today August 15 hit the lowest level in more than 1 year

Iron ore futures prices fell to a record low.

Steel prices in the North

According to SteelOnline.vn, Hoa Phat steel brand, with CB240 rolled steel line at 13,640 VND/kg; D10 CB300 ribbed steel bar is priced at 13,840 VND/kg.

Viet Y steel brand, CB240 rolled steel line is priced at 13,640 VND/kg; D10 CB300 ribbed steel bar is priced at 13,740 VND/kg.

Viet Duc Steel, with CB240 coil steel line stopping at 13,580 VND/kg, D10 CB300 ribbed steel bar priced at 13,890 VND/kg.

Viet Sing Steel, with CB240 coil steel priced at 13,700 VND/kg; D10 CB300 ribbed steel bar priced at 14,010 VND/kg.

VAS steel, with CB240 coil steel line at 13,600 VND/kg; D10 CB300 ribbed steel bar is priced at 13,750 VND/kg.

Steel prices in the Central region

Hoa Phat Steel, with CB240 coil steel down to 13,640 VND/kg; D10 CB300 ribbed steel bar priced at 13,840 VND/kg.

Viet Duc Steel, currently CB240 coil steel is at 13,990 VND/kg; D10 CB300 ribbed steel is priced at 14,290 VND/kg.

VAS Steel currently sells CB240 coil steel at 14,010 VND/kg; D10 CB300 ribbed steel bar is priced at 13,960 VND/kg.

Pomina steel, with CB240 coil steel line at 14,280 VND/kg; D10 CB300 ribbed steel bar is priced at 14,480 VND/kg.

Steel prices in the South

Hoa Phat Steel, CB240 rolled steel is at 13,640 VND/kg; D10 CB300 ribbed steel is priced at 13,840 VND/kg.

VAS steel, CB240 coil steel line is at 13,600 VND/kg; D10 CB300 ribbed steel bar is priced at 13,700 VND/kg.

Pomina steel, CB240 coil steel line is at 14,080 VND/kg; D10 CB300 ribbed steel bar is priced at 14,380 VND/kg.

Steel prices on the exchange

Rebar on the Shanghai Futures Exchange (SHFE) for May 2025 delivery fell 44 yuan to 3,244 yuan/t.

Iron ore futures fell to their lowest in more than a year, as disappointing credit data from top consumer China worsened market sentiment already hit by falling demand and high supplies.

The most-traded iron ore contract on China's Dalian Commodity Exchange (DCE) fell 3.32 percent to 713 yuan ($99.74) a tonne.

The contract hit its lowest since June 1, 2023 at 706.5 yuan in early trading.

Benchmark September iron ore on the Singapore Exchange hovered below the psychologically important $100 a tonne level for a fifth straight session, falling 2.74% to $95.75.

Prices hit their lowest since May 31, 2023 at $95.20 earlier in the session.

China's bank lending fell more than expected in July to its lowest level in nearly 15 years, dragged down by weak credit demand and seasonal factors.

“Credit data in July remained weak, dampening sentiment… hot metal output showed signs of further decline as many mills are incurring losses,” analysts at Everbright Futures said in a note.

China's iron ore demand will fall by 33.4 million tonnes by 2024, said Jia Yanlin, director of the research institute of China Mineral Resources Group (CMRG).

CMRG was established in July 2022 to strengthen Beijing's iron ore pricing power and ensure secure supply chains for some of its key mineral resources.

Jia forecasts that China's ore supply this year will increase by 71 million tonnes from a year ago and that China's steel exports will hover around 90 million tonnes, similar to the level seen in 2023.

Other steelmaking components on the DCE also fell, with coking coal and coke down 2.77% and 1.85%, respectively.

Source: https://kinhtedothi.vn/gia-thep-hom-nay-15-8-cham-muc-thap-nhat-trong-hon-1-nam.html