| Steel price today, March 28, 2024: Decreased on the trading floor; domestic market remains stable Steel price today, March 29, 2024: Iron ore futures prices continue to decrease |
Steel prices on the exchange
Steel price today March 30, 2024: Steel price for May 2024 delivery on the Shanghai Stock Exchange decreased by 16 yuan to 3,486 yuan/ton.
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| Steel price today March 30, 2024: How is the market doing with new information about Chinese steel? |
Iron ore futures fell further on Wednesday (March 27) to their lowest in more than a week, pressured by persistent concerns about demand in top consumer China amid a lack of significant policy measures to boost steel consumption, according to Reuters.
The May iron ore contract on China's Dalian Commodity Exchange (DCE) closed 3.53% lower at 805.5 yuan ($111.43) a tonne, its lowest since March 19.
Iron ore prices have been under pressure this year due to a number of factors, including a slow construction season in China and high iron ore exports from Brazil, analysts at Citi Group said.
However, Citi expects China's steel output to increase in the coming time as construction activities pick up again, leading to increased demand for iron ore from steel mills.
Citi now forecasts iron ore prices to recover in Q2 2024 to an average of $120/tonne.
Domestic steel prices today
The domestic steel market is anxiously awaiting information on whether or not to apply trade defense measures to steel imported from China. Previously, the Ministry of Industry and Trade received requests from a number of domestic HRC steel manufacturers to apply anti-dumping measures on imported HRC steel products (mainly from China and India).
According to Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan, the Ministry of Industry and Trade will comply with the provisions of the Law on Foreign Trade Management and related regulations. Accordingly, it must go through all stages from receiving documents, studying documents, requesting additional documents, assessing complete validity before applying the investigation. During the investigation, very strict procedures must be followed and the investigation results may or may not apply anti-dumping measures.
“ There must be sufficient scientific and practical basis and evidence to illustrate whether or not it should be applied. We are currently reviewing and continuing to request the parties to provide and supplement additional documents, and have not yet made a final decision or conclusion on whether to investigate or not, ” said Deputy Minister Tan.
According to a survey on Steel Online, today's steel price on March 30, 2024 is as follows:
Steel prices in the North
Today's Hoa Phat steel price for CB240 coil steel is at 14,140 VND/kg; D10 CB300 ribbed steel is stable at 14,530 VND/kg.
Viet Y steel price, with CB240 coil steel line at 14,140 VND/kg; D10 CB300 ribbed steel bar is stable at 14,640 VND/kg.
Viet Duc steel price for CB240 coil steel is at 14,040 VND/kg, D10 CB300 ribbed steel is stable at 14,640 VND/kg.
The price of Viet Nhat Steel (VJS), with CB240 steel line stable at 14,210 VND/kg, with D10 CB300 steel line maintained at 14,310 VND/kg.
Kyoei Vietnam Steel (KVSC) price for CB240 coil steel is at 14,070 VND/kg, for D10 CB300 ribbed steel is at 14,370 VND/kg.
The price of Viet My Steel (VAS), with CB240 coil steel line at 14,110 VND/kg, with D10 CB300 ribbed steel line is stable at 14,210 VND/kg.
Steel prices in the Central region
Hoa Phat steel price, with CB240 coil steel line at 14,140 VND/kg; D10 CB300 ribbed steel bar stable at 14,490 VND/kg.
Viet Duc steel price, with CB240 coil steel line at 14,540 VND/kg; D10 CB300 ribbed steel bar at 14,850 VND/kg.
Vietnam-America Steel (VAS) price, with CB240 coil steel at 14,210 VND/kg; D10 CB300 ribbed steel at 14,670 VND/kg.
Pomina steel price, with CB240 coil steel line at 14,690 VND/kg; D10 CB300 ribbed steel bar stable at 15,300 VND/kg.
Hoa Phat steel price, with CB240 rolled steel line at 14,140 VND/kg; D10 CB300 ribbed steel bar is stable at 14,530 VND/kg.
Pomina steel price with CB240 coil steel line is at 14,590 VND/kg; D10 CB300 rebar steel is stable at 15,300 VND/kg.
Viet My Steel (VAS), with CB240 coil steel at 14,010 VND/kg; D10 CB300 ribbed steel at 14,410 VND/kg.
Tung Ho Steel, with CB240 coil steel line at 14,210 VND/kg, with D10 CB300 ribbed steel line at 14,510 VND/kg.
Steel prices in the South
Hoa Phat steel price, with CB240 rolled steel line at 14,140 VND/kg; D10 CB300 ribbed steel bar is stable at 14,530 VND/kg.
Pomina steel price with CB240 coil steel line is at 14,590 VND/kg; D10 CB300 rebar steel is stable at 15,300 VND/kg.
Viet My Steel (VAS), with CB240 coil steel at 14,010 VND/kg; D10 CB300 ribbed steel at 14,410 VND/kg.
Tung Ho Steel, with CB240 coil steel line 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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