Steel price today April 21: Iron ore increases slightly

World steel prices

At the opening of the trading session on April 21, the price of rebar for May delivery on the Shanghai Futures Exchange remained unchanged at around 3,015 yuan/ton. Meanwhile, the price of iron ore for May delivery on the Dalian Commodity Exchange edged up 0.4% (3.5 yuan) to 762 yuan/ton, while the price of ore on the Singapore Commodity Exchange increased by 0.5 USD to 99.8 USD/ton.

In the first half of April, commercial billet offers in the Gulf Cooperation Council (GCC) countries fell by $11/mt to $449/mt CFR as of April 18. Last week, some mills in Saudi Arabia were forced to sell billet at $520/mt EXW (ex-works price), according to Kallanish.

Meanwhile, their estimated break-even price is $533/t EXW, taking into account the cost of purchasing and processing scrap. A company representative said that if production were to be temporarily halted, the loss would be even greater due to the cost of restarting the equipment.

In Southern Europe, billet prices also fell by EUR 3/t in the first half of April, to EUR 492/t EXW as of April 18. Similar to the GCC countries, this was due to lower rebar prices. Rolling mills refused to buy billet at March prices, forcing producers to make concessions.

In China, billet prices fell by $11 per tonne in the first half of the month. As of April 12, mill offers had fallen to $407 per tonne EXW. Billet inventories at warehouses in Tangshan fell by 67,900 tonnes last week to 731,200 tonnes as of April 14. This has created room for price increases. However, this has been offset by producers stockpiling more rebar, indicating weak demand for finished products.

In this context, re-rollers in the Middle East are prioritizing billet imports from Southeast Asia. In particular, Kallanish has confirmed large shipments from China and Indonesia.

In Türkiye, billet prices fell by $10/ton in the first half of April to $520/ton EXW as of April 11. Domestic rebar producers are in no rush to replenish billet due to weak demand from construction companies and are waiting for prices to fall further. They also prioritize imports from Southeast Asia if necessary.

As reported, since April, electricity prices in Oman have increased by 33% during peak hours. This increase will last until the end of July to prioritize electricity supply to households during the hot season.

Initially, it was expected that in this context, rebar prices in the Middle East would increase due to reduced production capacity, thereby creating conditions for billet producers to increase prices. However, it is now clear that with weak demand for rebar, production restrictions can only help stabilize steel prices, not push them up.

Domestic steel prices

Steel prices in the North

According to SteelOnline.vn, Hoa Phat steel brand, with CB240 rolled steel line at 13,550 VND/kg; D10 CB300 ribbed steel bar is priced at 13,600 VND/kg.

Viet Y steel brand, CB240 rolled steel line is priced at 13,580 VND/kg; D10 CB300 ribbed steel bar is priced at 13,690 VND/kg.

Viet Duc Steel, with CB240 coil steel line at 13,500 VND/kg, D10 CB300 ribbed steel bar is priced at 13,800 VND/kg.

Viet Sing Steel, with CB240 coil steel, is priced at VND13,450/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 13,630 VND/kg; D10 CB300 ribbed steel bar is priced at 13,750 VND/kg.

Viet Duc Steel, currently CB240 coil steel is at 13,800 VND/kg; D10 CB300 ribbed steel is priced at 14,200 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 13,550 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-21-4-quang-sat-nhich-tang-250082.html