Steel price today November 24: Iron ore decreases, world market goes down

Steel and iron ore futures prices on world exchanges continued to decline slightly due to concerns about weak demand. Meanwhile, the domestic construction steel market remained stable.

Steel and iron ore prices in the world markets continued to decline in the trading session on November 24 amid concerns about weakening demand and narrowing profit margins. In contrast to this trend, domestic construction steel prices were maintained stable by businesses.

World steel and iron ore prices continued to fall in the first trading session of the week.

World market developments

At the opening of the trading session on November 24, prices of metal items on major exchanges all recorded a slight decrease. Specifically:

• On the Shanghai Futures Exchange (SHFE), the December rebar futures price fell 0.3% (equivalent to 10 yuan) to 3,004 yuan/ton .
• On the Dalian Commodity Exchange (DCE), iron ore prices fell 0.7% (equivalent to 5.5 yuan), closing at 800 yuan/ton .
• On the Singapore Exchange (SGX), iron ore futures for December delivery fell 0.8 USD to 103.15 USD/ton .

Global output and raw materials

According to data from the World Steel Association, global steel production in October 2025 reached 143.3 million tons, down 5.9% compared to the same period in 2024 but up 1.1% compared to the previous month. In the CIS region and Ukraine, production reached 6.4 million tons, down 5.1% compared to the same period but up 3.2% compared to September 2025.

China’s raw material market has also seen many fluctuations. In October, the country imported 10.6 million tons of coking coal, up 6.4% year-on-year but down about 3% from September. In the first 10 months of the year, total imports reached 94.2 million tons, down 4.8% from 2024. Meanwhile, China’s domestic iron ore output in the first 10 months of 2025 reached 851.74 million tons, down 3.2% year-on-year.

Recycling old ships: A potential source of scrap

A new report by Shipbreaking Platform shows that ship recycling could become an important source of high-quality scrap for the EU steel industry. The study found that 70-95% of a ship’s weight could be recovered as scrap. It is forecast that over 700 ships will be scrapped each year between 2032 and 2036, generating over 10 million tonnes of scrap annually, equivalent to around 15% of the EU’s total scrap consumption in 2024.

Domestic construction steel prices remain stable

The domestic steel market on November 24 recorded no fluctuations, with listed prices at major enterprises remaining unchanged in all three regions. According to distributors, abundant supply and construction demand showing no signs of a breakthrough are the main reasons for price stability.

Trademark	Product	Northern region (VND/kg)	Central region (VND/kg)	Southern region (VND/kg)
Hoa Phat	CB240 steel coil	13,500	13,500	13,500
	D10 CB300 rebar steel	13,090	13,090	13,090
Vietnamese-Italian	CB240 steel coil	13,640	-	-
	D10 CB300 rebar steel	12,880	-	-
Viet Duc	CB240 steel coil	13,350	13,650	-
	D10 CB300 rebar steel	12,850	13,050	-
VAS	CB240 steel coil	13,330	13,430	13,130
	D10 CB300 rebar steel	12,730	12,830	12,730

In the short term, domestic steel prices are forecast to continue moving sideways, waiting for clearer signals from the international market and policies to promote public investment at the end of the year.

Source: https://baolamdong.vn/gia-thep-hom-nay-2411-quang-sat-giam-thi-truong-the-gioi-di-xuong-404812.html