Steel price today May 18: All decreased

World market

At the end of the weekend trading session, the price of June rebar on the Shanghai Futures Exchange fell 0.65% (20 yuan) to 3,073 yuan/ton. On the Dalian Exchange, the price of May iron ore futures fell 0.19% (1.5 yuan) to 799 yuan/ton. Meanwhile, the price of iron ore on the Singapore Exchange fell 0.6 USD to 100.6 USD/ton.

Compared with the same period last year, steel prices on the Shanghai Exchange increased by +1.7%, iron ore prices on the Dalian and Singapore Exchanges changed by +5.4% and +2.3% respectively.

In a recent analysis, international credit rating agency Moody's said that the iron ore market will remain balanced despite weak demand from China and high production. Accordingly, iron ore prices are expected to remain in the range of 80 - 100 USD/ton in the next 12 - 18 months.

Domestically, construction steel prices at some businesses are stable.

China's cuts in steel production and move to more environmentally friendly technologies have reduced demand for low-grade ore.

Meanwhile, major mining companies continue to increase production, leading to a glut in the market. However, large producers remain profitable thanks to low mining costs.

Analysts at BMI Country Risk and Industry Research have a similar view, maintaining their average price forecast for 2025 at $100/t, although they acknowledge the pressure from weak demand.

Specifically, restrictions on steel production in China, difficulties in the country's construction sector, along with the slowdown in global economic growth remain the main pressure factors.

However, a new round of monetary stimulus in China and the possibility of progress in US-China trade talks are providing some optimism, which could partly mitigate the risk of a price decline.

In the long term, BMI analysts forecast iron ore prices to gradually decline to $78 per tonne by 2034. The cause remains the decline in steel production and the increase in global ore mining output.

Thus, the iron ore market is expected to remain relatively stable over the next few years, but the long-term trend will be downward.

Global iron ore exports in 2024 are expected to increase by just 2% year-on-year to around 1.6 billion tonnes. Australia remains the largest exporter of the material (866 million tonnes, up 1.4% year-on-year), followed by Brazil (390 million tonnes, up 2.6%) and South Africa (61 million tonnes, up 3.4%).

Domestic market

Domestically, construction steel prices at some enterprises are stable. Specifically, the price of Hoa Phat 's CB240 steel is recorded at 13,640 VND/kg, CB300 steel is quoted at 13,690 VND/kg. Similarly, at Viet Y Steel Enterprise, the price of CB240 steel is stable at 13,740 VND/kg; D10 CB300 steel is recorded at 13,740 VND/kg.

Steel prices 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 13,650 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 13,890 VND/kg.

Viet Duc Steel, with CB240 coil steel line at 13,650 VND/kg, D10 CB300 ribbed steel bar is priced at 13,650 VND/kg.

Viet Sing Steel, with CB240 coil steel, is priced at VND13,650/kg; D10 CB300 ribbed steel is priced at VND13,650/kg.

VAS steel, with CB240 coil steel line at 13,330 VND/kg; D10 CB300 ribbed steel bar is priced at 13,380 VND/kg.

Steel prices in the Central region

Hoa Phat Steel, with CB240 coil steel line, is at 13,700 VND/kg; D10 CB300 ribbed steel bar is priced at 13,700 VND/kg.

Viet Duc Steel, currently CB240 coil steel is at 14,050 VND/kg; D10 CB300 ribbed steel is priced at 14,050 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.

Steel prices in the South

Hoa Phat Steel, CB240 rolled steel, at 13,650 VND/kg; D10 CB300 ribbed steel is priced at 13,650 VND/kg.

VAS steel, CB240 coil steel line is at 13,380 VND/kg; D10 CB300 ribbed steel bar is priced at 13,480 VND/kg.

Source: https://baodaknong.vn/gia-thep-hom-nay-18-5-dong-loat-giam-252885.html