Steel price today June 24: Green amid Middle East tensions

Steel and iron ore prices fluctuated at the opening of the trading session, amid investor concerns over rising tensions in the Middle East.

World steel prices

At the opening of the trading session on June 23, the price of steel rebar for July delivery on the Shanghai Futures Exchange increased by 1.8% (55 yuan) to 3,089 yuan/ton. On the Dalian Exchange, the price of iron ore for July delivery decreased by 1.5 yuan to 722 yuan/ton. Meanwhile, the price of iron ore for July delivery on the Singapore Exchange-SGX increased by 0.15 USD to 93.66 USD/ton.

In the stainless steel market, in the first quarter of 2025, global stainless steel output increased by 6.2%, while POSCO accelerated restructuring in China and Vietnam.

According to newly released data from the World Stainless Steel Association, global stainless steel output in the first quarter of 2025 reached 15.55 million tons, up 6.2% over the same period in 2024. However, compared to the previous quarter, output decreased by 6.2%.

In Europe (including Ukraine), output reached 1.61 million tons, up 2.9% year-on-year and up 15.9% from the fourth quarter of 2024. In the US, output in the first three months of the year increased 8.6% year-on-year and 25.4% from the previous quarter, reaching 533 thousand tons.

In Asia (excluding China and South Korea), production fell 3.3% year-on-year in Q1 and 7.7% year-on-year in Q4 2024 to 1.78 million tonnes. China alone produced 9.62 million tonnes, down +11.2% and -10.4%, respectively. Meanwhile, the rest of the group – including Brazil, South Africa, Indonesia, South Korea and Russia – recorded production declines of 4.5% and 3%, respectively, to 1.98 million tonnes.

In another development, South Korea's POSCO Group is stepping up restructuring activities, considering selling two subsidiaries operating in China and Vietnam to cut non-core assets and inefficient businesses.

Specifically, POSCO Group is considering transferring its shares in Suzhou POSCO-CORE Technology (China) to Guangdong WCAN Magnetic Materials Co., Ltd. This company was established in 2005 in Jiangsu province and specializes in manufacturing electrical steel plates as well as motor components.

The current ownership structure includes Posco International holding 50.8%, Posco 23.8%, Posco Mobility Solution 21.1% and P-ASIA 4.3%.

In addition, POSCO E&C is also considering selling all of its equity in POSCO E&C Vietnam – a joint venture with state-owned corporation Lilama, established in 1995. Initially, Lilama owned 30% and POSCO E&C held 70%, but now the Korean side owns all of it.

Since Chairman Jang In-hwa took office in March last year, POSCO Group has implemented a restructuring plan for 125 underperforming assets and businesses. As of the end of 2024, the group had completed 45 deals, generating 662.5 billion won in cash.

Domestic steel prices

Domestically, businesses keep steel prices stable. Specifically, the price of Hoa Phat 's CB240 steel is recorded at 13,650 VND/kg; CB300 steel is quoted at 13,790 VND/kg. Similarly, at Viet Duc Steel, the price of CB240 steel is at 13,350 VND/kg; D10 CB300 steel is priced at 13,350 VND/kg. For Thai Nguyen steel, the price of CB240 steel remains at 13,970 VND/kg and D10 CB300 at 14,080 VND/kg.

Steel prices in the North: According to SteelOnline.vn, Hoa Phat steel brand, with CB240 steel coil line at 13,650 VND/kg; D10 CB300 ribbed steel bar at 13,790 VND/kg; Viet Y steel brand, CB240 steel coil line at 13,890 VND/kg; D10 CB300 ribbed steel bar at 13,990 VND/kg; Viet Duc steel, with CB240 steel coil line at 13,550 VND/kg, D10 CB300 ribbed steel bar at 13,550 VND/kg; Viet Sing steel, with CB240 steel coil line at 13,690 VND/kg; D10 CB300 ribbed steel bar at 13,580 VND/kg; VAS steel, with CB240 steel coil line at 13,740 VND/kg; D10 CB300 rebar steel costs 13,740 VND/kg.

Steel prices in the Central region: Hoa Phat Steel, with CB240 coil steel line, at 13,530 VND/kg; D10 CB300 ribbed steel bar is priced at 13,530 VND/kg; Viet Duc Steel, currently CB240 coil steel line is priced at 14,050 VND/kg; D10 CB300 ribbed steel bar is priced at 14,000 VND/kg; VAS Steel, CB240 coil steel line is priced 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 13,790 VND/kg; D10 CB300 ribbed steel bar at 13,740 VND/kg; VAS Steel, CB240 rolled steel line at 13,740 VND/kg; D10 CB300 ribbed steel bar at 13,840 VND/kg.

Source: https://baodaknong.vn/gia-thep-hom-nay-24-6-sac-xanh-giua-cang-thang-trung-dong-256500.html