Steel price today 3/24/2025 has slight fluctuations

Steel price today March 24, 2025 in domestic market

Steel price in the North on March 24, 2025

Brand/Type of Steel	Price (VND/kg)	Increase/decrease (VND)
Hoa Phat - CB240 Steel Coil	13,480	-
Hoa Phat - D10 CB300 ribbed steel bar	13,580	-
Viet Y - CB240 Steel Coil	13,580	-
Viet Y - D10 CB300 ribbed steel bar	13,690	-
Viet Duc - CB240 Steel Coil	13,430	-
Viet Duc - D10 CB300 ribbed steel bar	13,740	-
Viet Sing - CB240 Steel Coil	13,430	-
Viet Sing - D10 CB300 ribbed steel bar	13,640	-
VAS - CB240 Steel Coil	13,330	-
VAS - D10 CB300 ribbed steel bar	13,380	-

This stability may stem from steady construction demand in the North and a good domestic steel supply, not yet affected by factors such as fluctuations in global raw material prices or changes in import-export tax policies. However, to assess the long-term trend, it is necessary to monitor macroeconomic factors and market demand in the coming days.

Steel price in Central region on March 24, 2025

Brand/Type of Steel	Price (VND/kg)	Increase/decrease (VND)
Hoa Phat - CB240 Steel Coil	13,530	-
Hoa Phat - D10 CB300 ribbed steel bar	13,640	-
Viet Duc - CB240 Steel Coil	13,840	-
Viet Duc - D10 CB300 ribbed steel bar	14,140	-
VAS - CB240 Steel Coil	13,740	-
VAS - D10 CB300 ribbed steel bar	13,790	-

This may reflect stable construction demand in the region, combined with good supply from major manufacturers. However, prices in the Central region are slightly higher than in the North (based on previous data), possibly due to transportation costs or the distinct pricing strategies of each brand in this region.

Steel price in the South on March 24, 2025

Brand/Type of Steel	Price (VND/kg)	Increase/decrease (VND)
Hoa Phat - CB240 Steel Coil	13,690	-
Hoa Phat - D10 CB300 ribbed steel bar	13,840	-
VAS - CB240 Steel Coil	13,380	-
VAS - D10 CB300 ribbed steel bar	13,480	-

With no increase/decrease recorded during the day, the Southern steel market seems to be stable, reflecting that construction demand in the region remains steady and supply from these two major brands is meeting well. However, with the price difference between brands, buyers can consider choosing based on quality and cost to suit their specific needs.

Steel price today 3/24/2025 on the international market

The international steel and iron ore markets today, March 24, 2025, showed mixed trends among exchanges and regions. On the Shanghai Futures Exchange (SHFE), the price of rebar for November 2025 delivery increased slightly by 8 yuan to 3,272 yuan/ton, while the spot price of iron ore Fe 62% at Qingdao port (China) increased to 104 USD/ton on March 18, recovering from 100 USD/ton at the beginning of the month.

However, iron ore futures on the Dalian Commodity Exchange (DCE) fell sharply from $113/mt in mid-February to $100/mt, and on the Singapore Commodity Exchange also dropped $6/mt to $106/mt, reflecting cautious sentiment on future steel demand. In India, NMDC sold 62% Fe lump at $89/mt, while OMS reached $91.5/mt, while Brazil saw its 65% Fe export price rise slightly to $116/mt CFR US. Although steel and iron ore production in China fell by 1.5% and 12.6% respectively in the first two months of the year, along with an 8.4% drop in ore imports, the market has yet to see strong growth due to weak demand and uncertainty from local producers.

The China Iron and Steel Association (CISA)'s outdated capacity cut plan may support prices in the long term, but for now, supply-demand factors and raw material costs still make it difficult for international markets, including Ukraine's export revenue, to improve significantly.

Steel price assessment on March 24, 2025 has slight fluctuations

Today, March 24, 2025, the steel price market in Vietnam and internationally shows stability mixed with slight fluctuations, reflecting supply-demand factors and regional pricing strategies. In Vietnam, steel prices in the North range from 13,330 VND/kg (VAS) to 13,740 VND/kg (Viet Duc), in the Central region from 13,530 VND/kg (Hoa Phat) to 14,140 VND/kg (Viet Duc), and in the South from 13,380 VND/kg (VAS) to 13,840 VND/kg (Hoa Phat), with no sudden increases or decreases recorded.

This shows that domestic construction demand remains steady, supported by stable supply from major producers. In the international market, the price of rebar on the Shanghai Futures Exchange rose slightly to 3,272 yuan/ton (up 8 yuan), while iron ore spot prices in Qingdao reached 104 USD/ton, but iron ore futures prices in Dalian and Singapore fell to 100 USD/ton and 106 USD/ton, respectively. Steel and iron ore production in China decreased (1.5% and 12.6% in the first two months of the year), along with an 8.4% decrease in iron ore imports, but weak demand prevented prices from breaking out.

This situation, combined with export prices from Brazil ($116/ton) and India ($89-91.5/ton), shows that the global steel market is in a period of adjustment, influenced by cautious sentiment and efforts to cut outdated capacity in China.