Steel price today March 24: slight increase

Iron ore prices fell on the metals exchange.

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, is priced at VND13,430/kg; D10 CB300 ribbed steel is priced at VND13,640/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.

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 13,740 VND/kg; D10 CB300 ribbed steel bar is priced at 13,790 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 13,380 VND/kg; D10 CB300 ribbed steel bar is priced at 13,480 VND/kg.

Steel prices on the exchange

Rebar on the Shanghai Futures Exchange (SHFE) for November 2025 delivery rose 8 yuan to 3,272 yuan/t.

China’s falling steel output and falling imports have not led to a significant increase. Spot offers for imported 62% Fe ore in China rose to $104/mt CFR Qingdao port on March 18, up from $100/mt on March 6. This brought the offer back to the level seen at the beginning of the year.

On the Dalian Commodity Exchange (DCE), iron ore futures for May delivery fell to $100 a tonne from $113 in mid-February. On the Singapore Exchange, offers fell $6 to $106 a tonne over the same period.

The weak growth reflects uncertainty among local steelmakers about future demand for steel products despite supply cuts. China’s steel output fell 1.5 percent to 166.3 million tonnes in January-February. Iron ore output fell 12.6 percent to 158.4 million tonnes. Ore imports fell 8.4 percent to 191.36 million tonnes.

One of India’s largest companies, NMDC, sold 44,000 tonnes of 62% Fe lump ore at an auction on March 19 for $89 a tonne (excluding taxes). Another major producer, OMS, sold 991,000 tonnes for $91.50 a tonne on March 20.

Brazilian 65% Fe iron ore export prices rose to $116/mt CFR US on March 20. In mid-March, supply was at $115/mt.

The current situation on the Chinese market does not allow to increase the export turnover of Ukrainian iron ore enterprises, since the cost of raw materials in China is a global indicator.

The China Iron and Steel Association (CISA) plans to create a compensation program for the closure of outdated and inefficient capacity amid government efforts to cut domestic steel production, according to reports.

Source: https://kinhtedothi.vn/gia-thep-hom-nay-24-3-tang-nhe.html