World steel prices
At the opening of the trading session on June 2, the price of June rebar on the Shanghai Stock Exchange continued to decrease by 5 yuan to 2,920 yuan/ton. On the Dalian Stock Exchange, the price of June iron ore futures was flat at around 750 yuan/ton. Similarly, the price of June iron ore futures on the Singapore Stock Exchange decreased by 0.18 USD to 96.3 USD/ton. Iron and steel prices continued to decrease due to concerns about the increase in US import tariffs and the reactions of the regions.
In the spot market, although rebar prices increased in Türkiye and China, most other markets were under pressure.
The global rebar market continued to be volatile in May. Most regions faced weak demand, a seasonal slowdown in the construction sector and downward pressure on prices. Only China and Türkiye recorded slight increases, but the overall market remained quite limited.
In Türkiye, rebar prices rose 2.4% to $550.60/mt FOB as of May 30, but the pace of increase slowed sharply in the second half of the month. Total supply since the beginning of the year has decreased by 2.2%. The main reason for the price increase was higher input costs, such as scrap and billet, along with some mills temporarily shutting down.
Meanwhile, the EU rebar market has been under pressure from weak construction activity and falling scrap prices, leading to lower prices in most regions. The most notable decline was in Italy, where prices fell 8% on the month to €550.60/t EXW (ex-works) as of 30 May. This was due to a general slowdown in demand, particularly in residential construction, and fierce competition among producers as they resumed full operations following the April shutdown.
In May, US rebar prices fell 1.9% to $765/t, breaking a two-month streak of stability. Although prices were still 7.7% higher than at the start of the year, the market showed signs of weakness due to falling demand, volatile scrap prices, excess inventories and tariff uncertainty.
In China, prices fluctuated slightly during the month. After three months of stagnation, rebar prices increased by 0.2% to $423.3/ton FOT. However, they were still 5.3% lower than the same period last year. Prices are expected to remain under pressure in June due to a decline in demand during the rainy season, continued production growth, and an uncertain export outlook. Further developments will depend on the outcome of the US-China tariff negotiations and possible government support policies.
Domestic steel prices
Steel prices in the North: Hoa Phat steel brand, with CB240 coil steel line at 13,790 VND/kg; D10 CB300 ribbed steel bar is priced at 13,740 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 13,640 VND/kg.
Viet Duc Steel, with CB240 coil steel line at 13,600 VND/kg, D10 CB300 ribbed steel bar is priced at 13,350 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.
Steel prices in the Central region: Hoa Phat Steel, with CB240 coil steel line, is at 13,840 VND/kg; D10 CB300 ribbed steel bar is priced at 13,790 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.
Steel prices in the South: Hoa Phat Steel, CB240 rolled steel, 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://baodaknong.vn/gia-thep-hom-nay-2-6-tiep-da-giam-do-my-tang-thue-thep-254337.html
Comment (0)