Steel price today November 23: World slightly decreased, domestic stable

Steel and iron ore prices on Asian exchanges fell in unison during the trading session on November 23, mainly due to weakening demand in China. Contrary to this trend, the domestic construction steel market maintained stable prices.

World market developments

On the Shanghai Futures Exchange, the December rebar futures fell 0.1% to 3,014 yuan/ton . Similarly, the Dalian iron ore futures fell 0.12% to close at 805.5 yuan/ton .

At the Singapore Exchange, iron ore futures for December delivery were flat at $103.95 a tonne .

The main reason for the decline is believed to be the continued weakness in demand for construction materials in China, which has squeezed mill profits. According to data from consultancy Mysteel, average daily crude iron production fell 0.3% from the previous week to 2.36 million tonnes. The proportion of mills making a profit also fell sharply, from nearly 50% a month ago to just over a third.

Steel prices today, November 23, decreased across the board due to weak demand. — Steel prices in the Asian market fell due to weak demand in China.

Domestic steel prices remain stable

According to data from SteelOnline.vn, construction steel prices in the Vietnamese market on November 23rd did not record any new fluctuations. Large enterprises continued to maintain stable prices in all three regions.

Reference steel price list at some major brands (unit: VND/kg)

Trademark	Steel type	North	Central region	Southern
Hoa Phat	CB240 steel coil	13,500	13,500	13,500
Hoa Phat	D10 CB300 ribbed steel bar	13,090	13,090	13,090
Vietnamese-Italian	CB240 steel coil	13,640	-	-
Vietnamese-Italian	D10 CB300 ribbed steel bar	12,880	-	-
Viet Duc	CB240 steel coil	13,350	13,650	-
Viet Duc	D10 CB300 ribbed steel bar	13,040	13,050	-
VAS	CB240 steel coil	12,730	13,430	13,130
VAS	D10 CB300 ribbed steel bar	12,830	12,830	12,730