SJC price increases, listed at 82.5 million VND/tael; Steel coil price decreases, steel bar price increases

SJC price increased, listed at 82.5 million VND/tael

Today, SJC gold increased and decreased in opposite directions, anchoring at the highest level of 82.5 million VND/tael, world gold reversed and decreased sharply after a series of high increases.

At the time of survey at 5:00 a.m. on March 13, 2024, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold at 80.00 million VND/tael for buying and 82.10 million VND/tael for selling.

The difference between the buying price and the selling price is 2.1 million VND/tael.

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 80.20 - 82.10 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 80.35 - 82.45 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,158.460 USD/ounce, down 24.27 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 63.355 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 17.145 million VND/tael higher than the international gold price.

Japanese Yen exchange rate suddenly reversed and dropped sharply

Japanese Yen exchange rate surveyed on the morning of March 13, 2024 at banks as follows:

At Vietcombank, the buying rate is 162.71 VND/JPY and the selling rate is 172.22 VND/JPY, an increase of 0.11 VND in the buying direction and an increase of 0.12 VND in the selling direction.

At Vietinbank, the Yen exchange rate decreased by 0.96 VND in both buying and selling directions, equivalent to 162.45 VND/JPY and 172.15 VND/JPY.

At BIDV, the Japanese Yen exchange rate decreased by 0.84 VND in buying and decreased by 0.89 VND in selling, reaching 162.77 VND/JPY and 171.51 VND/JPY, respectively.

At Eximbank, the buying price decreased by 0.65 VND and the selling price decreased by 0.69 VND, respectively at 164.62 VND/JPY and 169.43 VND/JPY.

At Techcombank, the Japanese Yen exchange rate decreased by 0.69 VND at buying and 0.7 VND at selling with prices of 160.5 VND/JPY and 173 VND/JPY, respectively.

At Sacombank, the Japanese Yen exchange rate decreased by 0.76 VND in the buying and selling directions, corresponding to the prices of 165.24 VND/JPY and 170.29 VND/JPY.

According to the survey, today Sacombank is the bank with the highest buying rate of Japanese Yen and Eximbank is the bank with the lowest selling rate among the banks.

USD recovers slightly

Today, VCB USD reversed and recovered, increasing by 10 VND in both buying and selling directions, at the same time, the world USD continued to increase slightly.

The central VND/USD exchange rate announced by the State Bank is adjusted to 23,955 VND/USD, down 17 VND compared to the trading session on March 12.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,102 VND/USD. The US Dollar exchange rate has also been brought to the buying and selling range by the State Bank of Vietnam from 23,400 to 25,102 VND/USD.

The USD exchange rate at banks and domestic foreign exchange rates this morning recorded a series of upward adjustments at banks. Specifically, Vietcombank has a buying price of 24,430 and a selling price of 24,800, an increase of 10 VND compared to the trading session on March 12. The current USD buying and selling prices are in the range of 23,400 - 25,300 VND/USD.

In the world market, the Dollar Index (DXY), measuring the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stopped at 102.94 points - up 0.07% compared to the transaction on March 12.

Steel coil price down, steel bar up

Today, the domestic market adjusted down in CB240 coil steel line and increased in D10 CB300 rebar steel line in some brands.

Iron ore futures on the Shanghai Futures Exchange fell 18 yuan a tonne. Iron ore futures extended losses for a second straight session on Monday (March 11), hitting their lowest in more than four months, due to persistently weak fundamentals for the key steelmaking raw material in top consumer China, according to Reuters.

Steel price today March 13, 2024: Domestic market, downward adjustment in CB240 coil steel line and upward adjustment in D10 CB300 rebar steel line in some brands.

Poor profits at steelmakers have dampened their interest in increasing output, and weakness in the steel market has spilled over into the raw material market, putting pressure on ore prices, analysts at Everbright Futures said.

Other steelmaking components on the DCE fell, with coking coal DJMcv1 and coke DCJcv1 down 2.65% and 2.04%, respectively.

Benchmark steel prices on the Shanghai Futures Exchange were also weaker, with rebar SRBcv1 down 2.41 percent, hot-rolled coil SHHCcv1 down 1.95 percent, rebar SWRcv1 down 1.62 percent, and stainless steel SHSScv1 down 1.34 percent.

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