Domestic steel has positive signals
The price of steel for May 2024 delivery on the Shanghai Futures Exchange fell 18 yuan to 3,826 yuan/ton.
The May iron ore contract on China's Dalian Commodity Exchange (DCE) closed 1.1% lower at 992.5 yuan ($138.65) a tonne, its lowest since Jan. 2.
Other steelmaking components on the DCE also posted losses, with coking coal DJMcv1 and coking coal DCJcv1 down 4.54% and 2.62%, respectively.
Falling raw material prices pushed benchmark steel prices on the Shanghai Futures Exchange down.
Domestic market, in December 2023, Hoa Phat Group produced 648,000 tons of crude steel, up 4% over the previous month. Sales of hot rolled coil (HRC), construction steel and steel billets reached 760,000 tons, up 7%. Of which, construction steel and high-quality steel were 462,000 tons, up 13% over the previous month.
In the last month of the year, construction steel and high-quality steel of all kinds recorded the highest level in the past 20 months.
According to the Vietnam Steel Association, in 2024, steel production and consumption could reach 29 million tons and 21.67 million tons, up 6.7% and 7.4% respectively compared to 2023.
Domestic coffee prices rise
Updated at 4:12 a.m. on January 10, 2024, domestic coffee prices continued to increase, increasing from 1,300 - 1,400 VND/kg and reaching 70,000 VND/kg. Currently, the average coffee price in the Central Highlands provinces is about 69,700 VND/kg, the highest purchase price in Dak Nong province is 70,000 VND/kg.
Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is at 69,800 VND/kg; In Dak Nong province, coffee is purchased at the highest price of 70,000 VND/kg.
The price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 69,200 VND/kg.
Coffee prices today in Dak Lak province are high; in Cu M'gar district, it is purchased at 69,800 VND/kg, and in Ea H'leo district, Buon Ho town, it is purchased at the same price of 69,900 VND/kg.
Gold unexpectedly reversed and recovered
At the time of survey at 5:00 a.m. on January 10, 2024, the gold price on the trading floors of some companies was as follows:
Today's 9999 gold price is listed by DOJI at 71.45 million VND/tael for buying and 74.45 million VND/tael for selling.
At Mi Hong Gold and Gemstone Company, at the time of survey, the listed price of SJC gold was at 72.50 - 74.00 million VND/tael (buy - sell).
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 71.65 - 74.40 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 71.20 - 74.65 million VND/tael (buy - sell).
USD rises again
Today (January 10), VCB USD turned around and increased slightly by 10 VND in both buying and selling directions, while the world USD increased slightly again.
The central VND/USD exchange rate announced by the State Bank is adjusted to 23,931 VND/USD, down 2 VND compared to the trading session on January 9.
Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,077 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 25,077 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 24,155 and a selling price of 24,525, an increase of 10 VND compared to the trading session on January 9. 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 102.54 points - up 0.32% compared to the transaction on January 9.
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