Steel prices today, December 10th: Global market under downward pressure.

Domestic steel prices remained unchanged on December 10th amidst a downward trend in the global market due to increased iron ore supply and weakening demand in China.

World markets face downward pressure

On December 10th, global steel and iron ore markets continued to face significant downward pressure. On the Shanghai Futures Exchange, the price of rebar for July 2026 delivery fell to 3,097 yuan per ton. Other commodities such as hot-rolled coil and stainless steel also recorded slight declines.

The main reason came from the iron ore market, an important input material for the steel industry. The iron ore contract on the Dalian exchange fell 0.72% to close at 757.5 yuan/ton. In Singapore, the benchmark iron ore price for January also fell for the third consecutive session, to 101.7 USD/ton, the lowest level in nearly a month.

The decline was fueled by news that the Simandou iron ore mine in Guinea, one of the world’s largest, had shipped its first cargo, signaling a sharp increase in global supply in the future, putting competitive pressure on major exporters such as Australia and Brazil.

In addition, data from Mysteel shows that Chinese steel mills are cutting production, while iron ore inventories at ports are increasing. A report from Goldman Sachs also indicates that finished steel production in China is not decreasing as usual, suggesting weaker-than-expected consumption.

World steel prices are under downward pressure due to increased iron ore supply and weak demand.

Domestic steel prices remain stable

Contrary to global trends, the domestic steel market on December 10th showed no new fluctuations. Most major businesses maintained their listed prices due to the lack of improvement in domestic consumption and the continued high levels of inventory.

Reference price list of some major brands:

Trademark	Product	Price in the North (VND/kg)	Price in Central & Southern regions (VND/kg)
Hoa Phat	CB240 steel coil	13,500	13,500
Hoa Phat	D10 CB300 rebar steel	13,090	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	-

Market trend forecasting

Analysts say global steel and iron ore prices are likely to remain under pressure in the coming weeks amid falling demand in China, rising inventories and an expected increase in iron ore supply. Xinhu Futures believes that near-term futures contracts will face the most pressure.

In Vietnam, steel prices are projected to remain stable in the short term. However, if global raw material prices continue to fall sharply and domestic purchasing power does not improve, the domestic market may experience a correction at the end of December or the beginning of January 2026.

Source: https://baolamdong.vn/gia-thep-hom-nay-1012-thi-truong-the-gioi-chiu-ap-luc-giam-409304.html