Steel price today 7/2: Iron ore continues to decline

Steel and iron ore prices fell as disappointing factory data and persistent property uncertainty in top consumer China dented sentiment. China’s manufacturing activity contracted for a third straight month in June, albeit at a slower pace. But business sentiment remained subdued.

Steel prices on the exchange

Rebar on the Shanghai Futures Exchange (SHFE) for January 2026 delivery fell 21 yuan to 3,026 yuan/t.

Iron ore futures fell as disappointing factory data and persistent property uncertainty in top consumer China dampened sentiment.

Warnings of lower prices from Australian authorities and expectations of weaker seasonal demand have added to the bearish outlook.

The most-traded September iron ore contract on China's Dalian Commodity Exchange (DCE) fell 1.32 percent to 708.5 yuan ($98.92) a tonne.

Benchmark iron ore for August delivery (SZZFQ5) on the Singapore Exchange fell 0.9% to $93.45 a tonne.

China's manufacturing activity shrank for a third straight month in June, albeit at a slower pace. However, business sentiment remains subdued.

Continued weakness in China's property sector and an Australian government report warning of lower prices due to a weak outlook added to sentiment pressure, ANZ added.

China's steel billet exports tripled in the first five months of 2025, customs data showed, prompting the steel association to warn that full-year shipments could exceed 10 million tonnes.

Other steelmaking components on the DCE fell, with metallurgical coal and coking coal (DCJcv1) down 3.92% and 2.7%, respectively.

In the latest version of US President Donald Trump's tax bill, steelmaking coal has been classified as a critical mineral, allowing it to qualify for a tax credit that would cover 2.5% of fuel costs.

Steel benchmarks on the Shanghai Futures Exchange fell. Rebar slid 0.73%, hot-rolled coil fell 0.35%, wire rod (SWRcv1) fell 0.6% and stainless steel lost 1.07%.

Domestic steel prices

Enterprises stabilize selling prices. Specifically, at 08:00 on July 1, 2025, updated from SteelOnline.vn, steel prices in the Northern, Central and Southern regions were stable, currently steel prices fluctuated from 13,350 - 13,580 VND/kg for products such as CB240 and D10 CB300.

In the Northern region: Viet Duc Steel: CB240 rolled steel at 13,350 VND/kg; D10 CB300 ribbed steel bar at 13,050 VND/kg. Hoa Phat Steel: CB240 rolled steel at 13,530 VND/kg; D10 CB300 ribbed steel bar at 13,130 VND/kg.

Viet Sing Steel: CB240 coil steel price 13,430 VND/kg; D10 CB300 ribbed steel bar price 13,180 VND/kg. Viet Y Steel: CB240 coil steel price 13,530 VND/kg; D10 CB300 ribbed steel bar price 13,230 VND/kg. VAS Steel: CB240 coil steel price 13,430 VND/kg; D10 CB300 ribbed steel bar price 13,430 VND/kg.

Central region: Viet Duc Steel: CB240 rolled steel is priced at 13,550 VND/kg; D10 CB300 ribbed steel is 13,500 VND/kg.

Hoa Phat Steel: CB240 coil steel at 13,430 VND/kg; D10 CB300 ribbed steel bar at 13,180 VND/kg. VAS Steel: CB240 coil steel at 13,530 VND/kg; D10 CB300 ribbed steel bar at 13,580 VND/kg.

Southern region: Hoa Phat Steel: CB240 coil steel at 13,430 VND/kg; D10 CB300 ribbed steel bar at 13,230 VND/kg. VAS Steel: CB240 coil steel at 13,430 VND/kg; D10 CB300 ribbed steel bar at 13,530 VND/kg. TungHo Steel: CB240 coil steel at 13,430 VND/kg; D10 CB300 ribbed steel bar at 13,580 VND/kg.

Source: https://baolamdong.vn/gia-thep-hom-nay-2-7-quang-sat-tiep-da-giam-290812.html