Iron ore futures rose for a third straight session, hitting multi-month highs, as expectations of a new wave of reforms to control steel supply and economic stimulus measures from top steel consumer China bolstered market sentiment.
World steel prices
Rebar on the Shanghai Futures Exchange (SHFE) for March 2026 delivery rose 42 yuan to 3,158 yuan/t.
Iron ore futures rose for a third straight session, hitting multi-month highs, as expectations of a new wave of reforms to control steel supply and economic stimulus measures from top steel consumer China bolstered market sentiment.
The most-traded September iron ore contract on China's Dalian Commodity Exchange (DCE) rose 1.97% to 751 yuan ($104.64) a tonne, its highest since April 3.
Iron ore futures for August delivery (SZZFQ5) on the Singapore Exchange rose 1.96% to $97.95 a tonne, the highest since May 26.
This was mainly driven by expectations of supply-side reforms in the steel industry, which has supported prices, said an analyst in Shanghai who asked not to be named.
This has partly raised hopes about "whether additional economic stimulus measures will be deployed at the top-level meeting later this month" - according to analysts at brokerage Yongan Futures.
Furthermore, “iron ore has benefited from the rapid recovery of the coal market due to expectations of supply-side reform,” said Pei Hao, an analyst at international brokerage Freight Investor Services.
“There is no fundamental change in iron ore supply and demand. Exports are down but imports are likely to decline until the end of July,” Pei said.
Other steelmaking raw materials on the Dalian Commodity Exchange continued to rise, with coking coal and coke (DCJcv1) up 2.67% and 2.63% respectively.
Benchmark steel futures on the Shanghai Futures Exchange rose. Rebar rose 1.01%, hot-rolled coil rose 1.28%, wire rod (SWRcv1) rose 0.73% and stainless steel edged up 0.59%.
Domestic steel prices
Domestic steel market, brands keep selling prices unchanged. Specifically:
In the North, according to SteelOnline.vn, Hoa Phat steel brand, with CB240 rolled steel line at 13,650 VND/kg; D10 CB300 ribbed steel bar is priced at 13,790 VND/kg.
Viet Y Steel brand, CB240 rolled steel line is priced at 13,890 VND/kg; D10 CB300 ribbed steel bar is priced at 13,990 VND/kg.
Viet Duc Steel, with CB240 coil steel line at 13,550 VND/kg, D10 CB300 ribbed steel bar is priced at 13,550 VND/kg.
Viet Sing Steel, with CB240 coil steel, is priced at VND13,690/kg; D10 CB300 ribbed steel is priced at VND13,580/kg.
VAS steel, with CB240 coil steel line at 13,740 VND/kg; D10 CB300 ribbed steel bar is priced at 13,740 VND/kg.
In the Central region, Hoa Phat Steel, with CB240 rolled steel line, is at 13,530 VND/kg; D10 CB300 ribbed steel bar is priced at 13,530 VND/kg.
Viet Duc Steel, currently CB240 rolled steel is at 14,050 VND/kg; D10 CB300 ribbed steel is priced at 14,000 VND/kg.
VAS steel, CB240 coil steel line is at 13,740 VND/kg; D10 CB300 ribbed steel bar is priced at 13,790 VND/kg.
In the South, Hoa Phat Steel, CB240 rolled steel, is at 13,790 VND/kg; D10 CB300 ribbed steel is priced at 13,740 VND/kg.
VAS steel, CB240 coil steel line is at 13,740 VND/kg; D10 CB300 ribbed steel bar is priced at 13,840 VND/kg.
Source: https://baolamdong.vn/gia-thep-hom-nay-11-7-quang-sat-tang-len-muc-cao-nhat-trong-nhieu-thang-381915.html
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