Iron ore futures rebounded, boosted by expectations of fresh economic stimulus measures, after Beijing announced a $170 billion hydropower project to boost growth.
Steel prices on the exchange
Rebar on the Shanghai Futures Exchange (SHFE) for May 2026 delivery rose 39 yuan to 3,381 yuan/t.
Iron ore futures rebounded, boosted by expectations of fresh economic stimulus measures, after Beijing announced a $170 billion hydropower project to boost growth.
On the Dalian Commodity Exchange (DCE), the September iron ore contract rose 1.74% to 817 yuan ($113.93) a tonne. On the Singapore Exchange, the August iron ore futures price (SZZFQ5) also recorded a gain of 0.89% to $104.4 a tonne.
Iron ore futures continue to trend higher amid expectations that Beijing will roll out more fiscal stimulus, according to analysts at ANZ. The $170 billion mega hydropower project is expected to provide a boost to the steel industry, one of the key iron ore consuming sectors.
The move raises hopes that the Chinese government could return to traditional stimulus strategies as it tries to reduce excessive competition and tackle overcapacity in the steel industry, ANZ added.
Hot metal output – a key indicator of iron ore demand – remains high, according to market analysts.
On the supply side, shipments from major exporting countries continued to be mixed, with volumes from Australia falling while supplies from Brazil recovered, according to brokerage Everbright Futures.
One notable point is that Chinese steelmakers are boosting exports of semi-finished steel billets – a product that is subject to fewer tariffs and trade restrictions than finished steel in many international markets. This strategy has contributed to a sharp increase in steel exports from China – the world’s largest steel producer.
However, researchers warn that despite rising exports, China still needs to cut coal-fired blast furnace steel output if it is to meet its carbon emissions reduction targets this year.
In the raw material market, the prices of metallurgical coal and coking coal on the DCE increased by 5.97% and 2.96% respectively. On the Shanghai Futures Exchange, steel product prices also continued to rise, with rebar up 0.75%, hot-rolled coil up 0.98%, wire rod (SWRcv1) up 1.23%, and stainless steel up slightly by 0.08%.
Domestic steel prices
In the North, Hoa Phat steel brand, with CB240 rolled steel line at 13,650 VND/kg; D10 CB300 ribbed steel bar is priced at 13,790 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 13,990 VND/kg.
Viet Duc Steel, with CB240 coil steel line at 13,550 VND/kg, D10 CB300 ribbed steel bar is priced at 13,550 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.
In the Central region , Hoa Phat Steel, with CB240 coil steel line, is at 13,530 VND/kg; D10 CB300 ribbed steel bar is priced at 13,530 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.
In the South, Hoa Phat Steel, CB240 rolled steel, is 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://baolamdong.vn/gia-thep-hom-nay-23-7-gia-quang-sat-va-thep-tiep-tuc-di-len-383301.html
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