Steel prices today, June 19th: Slight fluctuations ahead of economic data...

Global steel and iron ore markets experienced slight fluctuations amid mixed economic data from China and new trade policies. Domestically, following a previous correction, prices remained stable today.

World steel prices

At the close of trading on June 18, July rebar futures on the Shanghai Futures Exchange rose 0.13% (4 yuan) to 3,016 yuan/tonne. On the Dalian Commodity Exchange, July iron ore futures fell 0.27% (1.5 yuan) to 728 yuan/tonne. Similarly, July iron ore futures on the Singapore Exchange fell $1.29 to $92.78/tonne.

Iron ore prices edged lower as investors assessed mixed economic data from China, the world's largest iron ore consumer. However, the stable profit margins of Chinese steel mills provided some support to prices.

Specifically, the production and consumption situation in China shows that new home prices in the country fell 0.2% in May compared to April, indicating that the real estate sector remains sluggish despite multiple rounds of government policy support. Industrial production growth in May also hit its lowest level in six months. However, retail sales – a consumer indicator – recovered, offering some temporary positive signals.

Amid competitive steel prices, most blast furnaces continue to operate due to high profit margins. According to consulting firm Mysteel, as of June 12th, approximately 60% of blast furnace steel mills in China were operating at positive profit margins. Brokerage firm Galaxy Futures commented: “Blasting furnace steel production is at its peak, but due to strong profitability, mills have no incentive to cut output.”

Additionally, prices of other steelmaking raw materials at the Dalian Commodity Exchange (DCE), such as coking coal and coke, rose by 1.81% and 1.04% respectively, while the strengthening US dollar, driven by safe-haven demand amid Middle Eastern geopolitical tensions, put downward pressure on dollar-denominated commodities, including iron ore.

Starting June 23rd, the US will impose a 50% tariff on a range of imported household appliances such as dishwashers, washing machines, and refrigerators – part of expanded steel tariffs under former President Trump's policy, escalating trade tensions and potentially impacting steel demand.

In a related development, steelmaker Cleveland-Cliffs announced its July order price for hot-rolled coil (HRC) steel at $950 per ton, up $40 per ton (4.4%) from the June price of $910 per ton.

However, June prices had already fallen by $65/ton (~7%) compared to May. The US HRC market recorded a sharp decline in May, with the average price falling 7.1% from April to $885/ton, due to weak demand, low scrap prices, and stalled trading activity after the "panic buying" period in March-April.

Some major producers, such as Nucor, had lowered prices by $60–70/ton in April–May but began raising them again from the beginning of June. However, most market participants still forecast prices to continue gradually falling during the summer, despite some scattered positive signs regarding demand.

Domestic steel prices

Domestically, businesses are maintaining stable steel prices. Specifically, Hoa Phat's CB240 steel is priced at 13,650 VND/kg; CB300 steel is priced at 13,790 VND/kg. Similarly, at Viet Duc Steel, CB240 steel is priced at 13,350 VND/kg; D10 CB300 steel is also priced at 13,350 VND/kg. At Thai Nguyen Steel, CB240 steel remains at 13,970 VND/kg and D10 CB300 at 14,080 VND/kg.

Steel prices in Northern Vietnam: According to SteelOnline.vn, Hoa Phat Steel brand offers CB240 steel coils at 13,650 VND/kg; D10 CB300 ribbed steel bars at 13,790 VND/kg; Viet Y Steel brand offers CB240 steel coils at 13,890 VND/kg; D10 CB300 ribbed steel bars at 13,990 VND/kg; Viet Duc Steel offers CB240 steel coils at 13,550 VND/kg, D10 CB300 ribbed steel bars at 13,550 VND/kg; Viet Sing Steel offers CB240 steel coils at 13,690 VND/kg; D10 CB300 ribbed steel bars at 13,580 VND/kg; VAS Steel offers CB240 steel coils at 13,740 VND/kg. D10 CB300 ribbed steel bars are priced at 13,740 VND/kg.

Steel prices in Central Vietnam: Hoa Phat Steel, with CB240 coiled steel, is priced at 13,530 VND/kg; D10 CB300 ribbed steel bars are priced at 13,530 VND/kg; Viet Duc Steel, currently with CB240 coiled steel at 14,050 VND/kg; D10 CB300 ribbed steel bars are priced at 14,000 VND/kg; VAS Steel, with CB240 coiled steel at 13,740 VND/kg; D10 CB300 ribbed steel bars are priced at 13,790 VND/kg.

Steel prices in Southern Vietnam: Hoa Phat Steel, CB240 coiled steel, at 13,790 VND/kg; D10 CB300 ribbed steel bar at 13,740 VND/kg; VAS Steel, CB240 coiled steel at 13,740 VND/kg; D10 CB300 ribbed steel bar at 13,840 VND/kg.

Source: https://baodaknong.vn/gia-thep-hom-nay-19-6-bien-dong-nhe-truc-du-lieu-kinh-te-tu-trung-quoc-256028.html