continue to rise on the exchange

Iron ore prices in top consumer China are likely to fall to $95-$105 a tonne in the second half of this year.

Steel prices in the North

According to SteelOnline.vn, Hoa Phat steel brand, with CB240 rolled steel line at 14,090 VND/kg; D10 CB300 ribbed steel bar is priced at 14,440 VND/kg.

Viet Y Steel brand, CB240 rolled steel line is priced at 14,240 VND/kg; D10 CB300 ribbed steel bar is priced at 14,340 VND/kg.

Viet Duc Steel, with CB240 coil steel line at 14,240 VND/kg, D10 CB300 ribbed steel bar is priced at 14,590 VND/kg.

Viet Sing Steel, with CB240 coil steel priced at 14,010 VND/kg, D10 CB300 ribbed steel remains at 14,210 VND/kg.

VAS steel, with CB240 coil steel line at 14,310 VND/kg; D10 CB300 ribbed steel bar is priced at 14,310 VND/kg.

Steel prices in the Central region

Hoa Phat Steel, with CB240 coil steel line at 14,140 VND/kg; D10 CB300 ribbed steel bar is priced at 14,440 VND/kg.

Viet Duc Steel, currently CB240 coil steel is at 14,750 VND/kg; D10 CB300 ribbed steel is priced at 15,000 VND/kg.

VAS steel, currently CB240 coil steel is at 14,410 VND/kg; D10 CB300 ribbed steel is priced at 14,260 VND/kg.

Pomina steel, with CB240 coil steel line at 14,940 VND/kg; D10 CB300 ribbed steel bar is priced at 15,200 VND/kg.

Steel prices in the South

Hoa Phat Steel, CB240 rolled steel is at 14,140 VND/kg; D10 CB300 ribbed steel is priced at 14,440 VND/kg.

VAS steel, CB240 coil steel line is at 14,310 VND/kg; D10 CB300 ribbed steel bar is priced at 14,210 VND/kg.

Pomina steel, CB240 coil steel line is at 14,790 VND/kg; D10 CB300 ribbed steel bar is priced at 14,990 VND/kg.

Steel prices on the exchange

Shanghai Futures Exchange (SHFE) for February 2025 delivery rose 9 yuan to 3,682 yuan/tonne.

Iron ore prices in top consumer China are likely to fall to $95-$105 a tonne in the second half of the year amid a supply glut. Prices for the steelmaking raw material have fallen 25% since the start of the year to $106.9 a tonne.

“Supply has been strong so far this year with port inventory rising to high levels while demand is still facing headwinds from the property sector,” analysts at China International Capital Corporation (CICC) said in a research report, adding that infrastructure investment growth will slow to 7.7% this year from 8.2% in 2023.

“Steel consumption led by real estate may not have bottomed out yet as various stimulus measures announced will do more to reduce inventories and it will take time for it to enter a period of stabilization or growth,” CICC said.

Meanwhile, Citi last week forecast iron ore prices would fall to $95 a tonne within the next three months.

Beijing has rolled out a series of stimulus measures to boost lackluster property demand, including reducing minimum down payments for home buyers, cutting mortgage interest rates and easing some home purchase restrictions.

While manufacturing-related steel demand remains steady, underlying concerns about its sustainability emerge with signs of weakness seen in May, CICC added.

Demand from the manufacturing and infrastructure sectors, along with strong steel exports, helped to partly offset a drop in demand from the property market last year.

CICC forecasts that actual steel consumption in the infrastructure sector will grow 1.3% year-on-year in 2024, slowing from a 4.7% increase in 2023. Steel exports may remain high this year but it is unlikely to see any significant growth, adding that the world is not short of steel capacity.

China's steel exports hit a seven-year high of 90.26 million tonnes in 2023, with some analysts predicting 2024 exports will rise to 100 million tonnes after volumes in the first five months of the year beat expectations.

Source: https://kinhtedothi.vn/gia-thep-hom-nay-ngay-17-6-tiep-tuc-tang-tren-san-giao-dich.html