Steel prices in the international market tended to decrease in the trading session on November 1, mainly due to pressure from weak consumption demand and increasing inventories in China. Meanwhile, the domestic construction steel market still maintained stability in selling prices.
World markets under pressure
On the Shanghai Futures Exchange (SHFE), the price of rebar for June 2026 delivery recorded a decrease of 21 yuan to 3,156 yuan/ton. Other products also fell, including hot-rolled coil (-0.72%), stainless steel (-0.82%) and wire rod (-0.21%).
Input prices also fell. Iron ore futures on the Dalian Commodity Exchange (DCE) fell 0.56 percent to 800 yuan a tonne (US$112.31 a tonne). In Singapore, iron ore for December delivery fell 0.19 percent to US$106.25 a tonne.
Other steelmaking raw materials such as coking coal and coke also decreased by 0.92% and 1.11% respectively.
Cause of weakened demand
China’s average daily hot metal output, a key indicator of iron ore demand, fell 1.5% week-on-week to 2.36 million tonnes as of October 30, according to data from Mysteel. At the same time, ore inventories at major ports in the country rose 0.8%.
An official survey also showed China’s manufacturing activity contracted for a seventh straight month in October, adding to concerns about steel consumption. Experts from First Futures said the market is now back to being driven by fundamentals after reflecting positive news on trade expectations, so the bearish trend could continue in the short term.
Domestic steel prices remain stable
In contrast to the world market, domestic construction steel prices have not recorded any new fluctuations. According to SteelOnline.vn, major brands have kept their listed prices unchanged compared to the end of October.
Reference steel price list in some areas:
| Trademark | Product | Price (VND/kg) |
|---|---|---|
| Hoa Phat | CB240 steel coil | 13,500 |
| Hoa Phat | D10 CB300 rebar steel | 13,090 |
| Vietnamese-Italian | CB240 steel coil | 13,640 |
| Vietnamese-Italian | D10 CB300 rebar steel | 12,880 |
| Viet Duc | CB240 steel coil | 13,350 |
| Viet Duc | D10 CB300 rebar steel | 12,850 |
| VAS | CB240 steel coil | 13,130 - 13,430 |
According to businesses, domestic steel prices remain high because input material costs have not decreased significantly, while demand from construction projects has not shown clear signs of recovery.
Source: https://baolamdong.vn/gia-thep-hom-nay-111-quang-sat-giam-gia-do-nhu-cau-yeu-399300.html
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