Steel price today May 24: Construction steel goes against the trend...

World steel prices

At the end of the trading session on May 23, the price of June rebar on the Shanghai Futures Exchange fell back 0.1% (3 yuan) to 3,051 yuan/ton. On the Dalian Exchange, the price of June iron ore futures increased 0.26% (2 yuan) to 771.5 yuan/ton. Similarly, the price of May iron ore futures on the Singapore Exchange decreased 0.34 USD to 99.86 USD/ton.

Iron ore futures on the Dalian Commodity Exchange traded in a narrow range as investors weighed demand for the steelmaking raw material in China and rising iron ore deliveries from major producers such as Australia and Brazil.

Consumer demand remains steady, especially in the manufacturing sector, brokerage Galaxy Futures said in a report.

The capacity utilization rate of 104 electric furnaces rose 1.2 percentage points from a week earlier to 40.4%, while daily scrap steel consumption rose 3.1% to 245,400 tonnes, according to consultancy Hexun Futures.

Similarly, hot pig iron output – a common gauge of iron ore demand – remained high this week at 2.45 million tonnes, according to brokerage Everbright Futures.

Besides, total imported iron ore inventory at 47 ports in China was 146.28 million tons, down 1.74% from the previous week.

On the supply side, total iron ore shipments from miners in Australia and Brazil rose 11.7% week-on-week to 27.1 million tonnes, according to consultancy Mysteel.

China's iron ore output reached 84.7 million tonnes in April. In the first four months of the year, Chinese miners reduced their iron ore output by 12.2% year-on-year to 328.6 million tonnes, according to data from the National Bureau of Statistics (NBS), as reported by SteelOrbis.

In April alone, domestic ore output was 84.7 million tons, down 4.9% over the same period last year.

Meanwhile, imported raw material prices fluctuated within a narrow range in late April. The lowest price (US$96/ton) was recorded on April 8–9, while the highest price (US$104/ton) was on April 1–2.

It is known that in April 2025, the amount of iron ore transported by sea to China reached 103.14 million tons, up 9.8% compared to the previous month and up 1.3% compared to the same period last year. The average price decreased by 13.3% compared to the same period to 98 USD/ton. During the month, the demand for iron ore remained high due to the positive production plans of steelmakers.

In the first four months of the year, iron ore imports fell 5.5 percent year-on-year to 388.36 million tonnes, while the average price per tonne fell 18.6 percent to $98.9.

Domestic steel prices are stable in all three regions.

In the North, steel prices today recorded slight fluctuations between brands. Hoa Phat Steel is listing CB240 rolled steel at 13,790 VND/kg, D10 CB300 at 13,740 VND/kg.

Viet Y Steel has a higher price with CB240 coil steel at 13,890 VND/kg, while Viet Duc Steel remains lower with D10 CB300 at only 13,350 VND/kg. The lowest price in this area belongs to VAS steel - 13,330 VND/kg for CB240.

In the Central region, steel prices tend to be higher than in the North. Viet Duc Steel has the highest price: CB240 at 14,050 VND/kg and D10 CB300 at 14,000 VND/kg. Hoa Phat Steel and VAS in this region both have prices around 13,740 - 13,840 VND/kg.

In the South, steel prices were stable, with Hoa Phat steel listed at VND13,790/kg for CB240 and VND13,990/kg for D10 CB300. Other brands such as VAS and TungHo had prices ranging from VND13,380 - VND13,750/kg, with no major fluctuations compared to the previous session.

Source: https://baodaknong.vn/gia-thep-hom-nay-24-5-thep-xay-dung-nguoc-chieu-quang-sat-253508.html