Steel prices at the end of the week recorded that the domestic steel market kept its selling price unchanged. The world market for finished steel and iron ore was pressured by concerns about US tariffs and trade tensions over Chinese steel exports.
World market
At the end of the trading session at the end of the week, the April rebar futures price on the Shanghai Futures Exchange (SHFE) fell another 0.33% (11 yuan) to 3,275 yuan/ton. Meanwhile, the iron ore price on the Dalian Commodity Exchange (DCE) was flat at 815 yuan/ton; the Singapore Exchange fell 1.9 USD to 102.44 USD/ton.
Thus, over the past week, steel and iron ore prices fell 1.3%, 3.4% and 5% respectively due to pressure from concerns about US tariffs and trade tensions over China's steel exports.
Yesterday, the French President stressed that “Europeans will have to respond” to the US's possible imposition of 25% tariffs on the European Union, according to the Lemonde newspaper.
The European Union will impose "proportionate" tariffs on steel and aluminum imports from the United States if President Donald Trump goes ahead with the 25% tariffs he has threatened to impose on European imports, French President Emmanuel Macron said on February 28.
Earlier, President Donald Trump announced that he would impose a 25% tariff on the EU – the same rate applied to imports from Canada and Mexico starting next week, while China will face an additional 10% tariff. He said the new tariffs would apply to products including cars, adding to tensions between Washington and its European allies.
Steel demand in the European Union remains volatile at present, but analysts at World Steel Dynamics (WSD) predict a gradual recovery in the second quarter of 2025. After a decline at the end of 2024, the market is showing the first signs of improvement, especially in the construction sector.
According to the WSD February report, business sentiment in the Eurozone improved in early 2025, which could have a positive impact on demand in the coming months. The ZEW Economic Sentiment Index rose 6.2 points in February to 24.2, significantly above the average.
The construction sector is expected to be one of the main drivers of steel demand, with activity expected to return to pre-pandemic levels by the end of the second quarter. Some recovery is also expected in the mechanical engineering and metal structure manufacturing sectors, albeit at a slower pace.
The decline in steel imports into the EU could help boost domestic demand. Between January 1 and February 18, imports of hot-rolled coil (HRC) fell 42% year-on-year, reducing competition from external suppliers. If new import restrictions are imposed in April, plate imports could fall by a further 25% quarter-on-quarter, supporting European steelmakers.
WSD analysts believe that if demand continues to improve and imports decline, steel prices could rise to 640-650 EUR/t in the second quarter. However, there are still many risks, including economic uncertainty, regulatory changes and global market volatility.
Domestic market
Domestically, steel companies simultaneously adjusted steel prices at the end of last week, with a decrease of around VND200/kg. Specifically, Hoa Phat reduced the price of CB240 steel by about VND210/kg to VND13,480/kg, while CB300 steel decreased by VND260/kg to VND13,580/kg. At other companies, CB240 steel prices fluctuated around VND13,360 - 13,800/kg, while D10 CB300 steel was around VND13,560 - 13,850/kg.
Steel prices in the North
According to SteelOnline.vn, Hoa Phat steel brand, with CB240 rolled steel line at 13,480 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 priced at 13,400 VND/kg; D10 CB300 ribbed steel bar priced at 13,700 VND/kg.
VAS steel, with CB240 coil steel line at 13,400 VND/kg; D10 CB300 ribbed steel bar is priced at 13,450 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 13,800 VND/kg; D10 CB300 ribbed steel bar is priced at 13,850 VND/kg.
Steel prices in the South
Hoa Phat Steel, CB240 rolled steel, at 13,690 VND/kg; D10 CB300 ribbed steel is priced at 13,840 VND/kg.
VAS steel, CB240 coil steel line is at 13,450 VND/kg; D10 CB300 ribbed steel bar is priced at 13,550 VND/kg.
Source: https://baodaknong.vn/gia-thep-hom-nay-2-3-giu-nguyen-muc-gi-244347.html
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