Steel and iron ore prices were mixed on the latest trade defense news from China and Taiwan. Domestically, prices remained unchanged; iron ore fell on increased supply; the strength of the US dollar limited gains.
World steel prices today
At the end of the trading session on June 30, the price of steel rebar for July delivery on the Shanghai Futures Exchange increased by 0.17% (5 yuan) to 2,999 yuan/ton. On the Dalian Exchange, the price of iron ore for July delivery decreased by 0.14% (-1 yuan) to 723.5 yuan/ton. Meanwhile, the price of iron ore for July delivery on the Singapore Exchange-SGX decreased by 0.25 USD to 94.3 USD/ton.
China will continue to maintain anti-dumping duties on stainless steel semi-finished products and hot-rolled steel sheets imported from the European Union (EU), the United Kingdom, South Korea and Indonesia, the Ministry of Commerce said on Tuesday, amid concerns over overcapacity that are fueling global trade tensions.
The tariffs, first imposed in 2019, range from 20.2% on imports from Indonesia to 43% on goods from the EU.
According to China's Ministry of Commerce, an internal investigation found that ending the tariffs could cause "damage" to the domestic stainless steel industry, so the government decided to continue the measure for five years from July 1.
As the world’s largest steel producer, China enacted the tariffs in response to US tariffs imposed under former President Donald Trump. Washington said at the time that Beijing’s unfair industrial policies had created a global oversupply, pushing down steel prices and hurting domestic producers.
Since returning to the White House in January, Trump has continued to shake up the global economy with a wave of new tariffs, targeting Chinese exports. Although Beijing and Washington have just reached a temporary truce in their tariff war, trade tensions between the world’s two largest economies remain high.
In a related development, Taiwan will impose temporary anti-dumping duties on certain types of flat hot-rolled steel imported from China for a period of four months, starting July 3. The information was posted by Yieh, citing Taiwan Customs.
The decision was made based on the preliminary results of an investigation that began in March this year, following a lawsuit filed by China Steel Corporation and Dragon Steel Corporation alleging that Chinese steel was being dumped and harming the domestic industry.
The tariff rate for producers such as Baoshan Steel, Baogang Zhanjiang and Shanghai Meishan Steel and their affiliates is 16.9%. For other exporters and businesses, the tariff rate will be 20.15%.
The affected products include flat hot-rolled steel of non-alloy and other alloy, not further processed or embossed, with thicknesses ranging from 1.1 mm to 25.4 mm; as well as flat hot-rolled steel coil with thicknesses ranging from 1.1 mm to 6 mm, falling under 65 specific commodity codes.
Domestic steel prices
SteelOnline.vn, steel prices in the North, Central and South regions are stable today, currently steel prices fluctuate from 13,350 - 13,580 VND/kg for products such as CB240 and D10 CB300.
In the North: Viet Duc Steel: CB240 rolled steel is at 13,350 VND/kg; D10 CB300 ribbed steel is priced at 13,050 VND/kg.
Hoa Phat Steel: CB240 coil steel at 13,530 VND/kg; D10 CB300 ribbed steel at 13,130 VND/kg.
Viet Sing Steel: CB240 coil steel price 13,430 VND/kg; D10 CB300 ribbed steel price 13,180 VND/kg.
Viet Y Steel: CB240 steel coil price 13,530 VND/kg; D10 CB300 ribbed steel bar price 13,230 VND/kg.
VAS Steel: CB240 coil steel price 13,430 VND/kg; D10 CB300 ribbed steel price 13,430 VND/kg.
In the Central region: Viet Duc Steel: CB240 rolled steel costs 13,550 VND/kg; D10 CB300 ribbed steel is 13,500 VND/kg.
Hoa Phat Steel: CB240 coil steel at 13,430 VND/kg; D10 CB300 ribbed steel at 13,180 VND/kg.
VAS Steel: CB240 coil steel at 13,530 VND/kg; D10 CB300 ribbed steel at 13,580 VND/kg.
In the South: Hoa Phat Steel: CB240 rolled steel at 13,430 VND/kg; D10 CB300 ribbed steel at 13,230 VND/kg.
VAS Steel: CB240 coil steel price is 13,430 VND/kg; D10 CB300 ribbed steel bar is 13,530 VND/kg.
TungHo Steel: CB240 coil steel is priced at 13,430 VND/kg; D10 CB300 ribbed steel is 13,580 VND/kg.
Source: https://baolamdong.vn/gia-thep-hom-nay-1-7-trai-chieu-truoc-bien-phap-phong-ve-thuong-mai-trung-quoc-290641.html
Comment (0)