Steel and iron ore prices weakened on news that the US will impose 30% tariffs on the EU and Mexico from August 1, while the EU continues to pursue negotiations.
World steel prices
At the end of the trading session on July 14, the price of steel rebar for August delivery on the Shanghai Stock Exchange decreased by 0.1% (3 yuan) to 3,073 yuan/ton. On the Dalian Stock Exchange, the price of iron ore for August delivery decreased by 0.07% (0.5 yuan) to 768 yuan/ton. Meanwhile, the price of iron ore for August delivery on the Singapore-SGX Exchange increased by 0.31 USD to 99.59 USD/ton.
US President Donald Trump has announced that he will impose a 30% tax on imports from the European Union (EU) and Mexico starting August 1. The statement was posted on the social networking platform Truth Social, according to CNN.
Immediately after the move, the EU said it would continue to suspend countermeasures until early August and continue to pursue negotiations, according to Reuters. European Commission President Ursula von der Leyen affirmed that the bloc would maintain a parallel strategy of both promoting negotiations and preparing countermeasures if necessary.
Leaders of EU member states have also spoken out against President Trump’s decision. French President Emmanuel Macron on July 12 condemned the move and affirmed his support for the EU in preparing countermeasures if no agreement is reached by August 1.
Spanish Prime Minister Pedro Sánchez said he would support the European Commission in the next round of negotiations. Meanwhile, Swedish Prime Minister Ulf Kristersson said the Swedish government regretted the US statement and supported the EU's negotiating efforts.
German Chancellor Friedrich Merz pledged on July 13 to actively seek a trade solution. Meanwhile, the Mexican government confirmed that it had received notice from the US in a high-level dialogue and expressed strong opposition. Mexico called the US decision “unfair treatment”.
Amid geopolitical uncertainty, the market for slabs continues to be gloomy. FOB Black Sea billet prices fell by 5% in June to $415/t. The main reasons were weak export demand and unpredictable US tax policies.
In Türkiye, billet imports increased by 34% in May compared to April, reaching 399,200 tons. Billet from Russia dominated with 66% of total imports, reaching 261,700 tons, up 2.3 times compared to the previous month. The average price of Russian billet was 514 USD/ton, while billet from other sources such as Algeria and Malaysia fluctuated around 475 USD/ton.
Hot-rolled coil (HRC) prices, the benchmark for the billet market, fell 5% in June to $520/mt (FOB Türkiye). In Brazil, billet prices also fell from $495 to $475/mt due to concerns that the US will impose a 50% tariff on goods from this country from August 1.
In the first half of 2025, Brazil exported 2.7 million tons of billet to the US, down significantly from 4.3 million tons in the same period in 2024. The downward trend reflects cautious sentiment in the market due to the risk of escalating global trade tensions.
Domestic market
Updated from SteelOnline.vn, steel prices in the Northern, Central and Southern regions are stable, currently steel prices fluctuate from 12,520 - 13,580 VND/kg for products such as CB240 and D10 CB300.
In the North: Viet Duc Steel: CB240 rolled steel at 13,050 VND/kg; D10 CB300 ribbed steel bar at 12,440 VND/kg. Hoa Phat Steel: CB240 rolled steel at 13,230 VND/kg; D10 CB300 ribbed steel bar at 12,830 VND/kg. Viet Sing Steel: CB240 rolled steel at 13,130 VND/kg; D10 CB300 ribbed steel bar at 12,930 VND/kg.
Viet Y Steel: CB240 steel coil price 13,130 VND/kg; D10 CB300 ribbed steel bar price 12,520 VND/kg. VAS Steel: CB240 steel coil price 13,130 VND/kg; D10 CB300 ribbed steel bar price 12,730 VND/kg.
In the Central region: Viet Duc Steel: CB240 coil steel is priced at 13,550 VND/kg; D10 CB300 ribbed steel is priced at 13,500 VND/kg. Hoa Phat Steel: CB240 coil steel is priced at 13,230 VND/kg; D10 CB300 ribbed steel is priced at 12,830 VND/kg. VAS Steel: CB240 coil steel is priced at 13,230 VND/kg; D10 CB300 ribbed steel is priced at 13,730 VND/kg.
In the South: Hoa Phat Steel: CB240 coil steel is priced at VND13,230/kg; D10 CB300 ribbed steel is priced at VND12,830/kg. VAS Steel: CB240 coil steel is priced at VND13,130/kg; D10 CB300 ribbed steel is priced at VND12,730/kg. TungHo Steel: CB240 coil steel is priced at VND13,030/kg; D10 CB300 ribbed steel is priced at VND12,530/kg./.
Source: https://baolamdong.vn/gia-thep-hom-nay-15-7-dao-chieu-giam-382351.html
Comment (0)