| Steel price today April 16, 2024: Domestic market remains unchanged Steel price today April 17, 2024: Construction steel coil decreased by 100,000 VND/ton |
Steel prices on the exchange
Steel price today April 18, 2024 - steel price for September 2024 delivery on the Shanghai Stock Exchange increased by 108 yuan to 3,544 yuan/ton.
The September iron ore futures contract on China's DCE closed 1.49% lower at 826 yuan ($114.10) a tonne.
The benchmark SZZFK4 iron ore price for May delivery on the Singapore Exchange (SGX) fell 2.73% to $109.15 a tonne, after three consecutive sessions of increases.
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Steel price today April 18, 2024: Construction steel can reach 15 million VND/ton |
Markets had been hoping China would announce more stimulus measures in the second quarter after a series of disappointing data from the world's second-largest economy.
However, analysts said those hopes were dimmed after better-than-expected GDP data, although the property sector is still slowing.
Prices for the key steelmaking raw material rose about 8% week-on-week as of April 15, suggesting that ore demand could be supported by expectations of higher crude steel output in April.
Other steel production materials on the DCE Exchange increased and decreased inconsistently, in which coking coal DJMcv1 increased by 1.6% while coking coal DCJcv1 decreased by 2.02%.
Benchmark steel prices on the Shanghai Futures Exchange were also mixed. Rebar SRBcv1 and hot-rolled coil SHHCcv1 were little changed, while rebar SWRcv1 fell 0.32% and stainless steel SHHScv1 fell 0.79%.
Domestic steel market price
MB Securities Company believes that domestic construction steel prices in 2024 may recover to VND15 million/ton (up 8% compared to 2023), thanks to the increase in world steel prices and "warming" demand in the Vietnamese market.
KB Securities Vietnam (KBSV) assessed that the steel industry has expectations that a new price increase cycle may begin in the second half of 2024 thanks to the recovery in demand for construction steel from the civil real estate group when investors open new projects and complete existing projects; public investment projects such as bridges, roads, tunnels, and airports are stepping up construction in the 2024-2025 period; and the Chinese real estate market bottoms out and recovers.
According to a survey on Steel Online, steel prices today, April 18, 2024, have not fluctuated, specifically:
Steel prices in the North
Hoa Phat steel price today decreased by 100 VND/kg for both steel lines. With CB240 rolled steel down to 14,040 VND/kg; D10 CB300 ribbed steel down to 14,430 VND/kg.
The price of Viet Y steel, with CB240 coil steel line decreased by 100 VND/kg, down to 14,040 VND/kg; D10 CB300 ribbed steel bar also decreased by 100 VND/kg, down to 14,540 VND/kg.
Viet Duc steel price for CB240 coil steel decreased by 100 VND/kg, down to 13,940 VND/kg, D10 CB300 ribbed steel decreased by 10 VND/kg, down to 14,630 VND/kg.
The price of Viet Nhat Steel (VJS), with CB240 steel line decreased by 100 VND/kg, down to 14,110 VND/kg, with D10 CB300 steel line maintained at 14,310 VND/kg.
Kyoei Vietnam Steel (KVSC) price for CB240 coil steel decreased by 100 VND/kg, down to 13,970 VND/kg, and for D10 CB300 ribbed steel bar decreased by 100 VND/kg, down to 14,270 VND/kg.
Vietnam-America Steel (VAS) price, with CB240 rolled steel line stable at 14,110 VND/kg, with D10 CB300 ribbed steel line stable at 14,210 VND/kg.
Steel prices in the Central region
Steel prices in the Central region today decreased by 100 VND/kg for some steel brands. Specifically:
Hoa Phat steel price, with CB240 coil steel line decreased by 100 VND/kg to 14,040 VND/kg; D10 CB300 ribbed steel bar decreased by 100 VND/kg to 14,390 VND/kg.
Viet Duc steel price, with CB240 coil steel line decreased by 100 VND/kg, down to 14,440 VND/kg; D10 CB300 ribbed steel bar decreased by 100 VND/kg, down to 14,750 VND/kg.
Vietnam-America Steel (VAS) prices, with CB240 coil steel stable at 14,210 VND/kg; D10 CB300 ribbed steel bar stable at 14,670 VND/kg.
Pomina steel price, with CB240 coil steel stable at 14,690 VND/kg; D10 CB300 rebar steel stable at 15,300 VND/kg.
Steel prices in the South
Steel prices in the South today also decreased by 100 VND/kg. Specifically:
Hoa Phat steel price, with CB240 coil steel line decreased by 100 VND/kg, down to 14,040 VND/kg; D10 CB300 ribbed steel bar decreased by 100 VND/kg, down to 14,430 VND/kg.
Pomina steel price with CB240 coil steel line is stable at 14,590 VND/kg; D10 CB300 rebar steel is stable at 15,300 VND/kg.
Viet My Steel (VAS), with CB240 coil steel stable at 14,010 VND/kg; D10 CB300 ribbed steel at 14,410 VND/kg.
Tung Ho Steel, with CB240 coil steel line stable at 14,210 VND/kg, with D10 CB300 rebar steel line at 14,510 VND/kg.
Information is for reference only, actual prices will vary by location!
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