Steel prices today, November 28, 2025, increased slightly following the weakening of the USD.

Steel prices today, November 28, 2025, increased slightly thanks to the weakening USD, but the market is still under pressure as demand for lump ore decreases and China's steel output tends to decrease sharply.

World construction steel and iron ore prices increased slightly

The world steel price market ended the session on November 27 with an increase as the USD weakened. On the Shanghai Stock Exchange, steel bar futures for December delivery increased by 0.37% to 3,008 yuan/ton.

Iron ore on the Dalian Exchange also rose 0.25% to 811.5 yuan/tonne.

In Singapore, iron ore for December delivery increased by 0.16 USD to 106.7 USD/ton.

While iron ore rebounded slightly, gains were capped by a sharp drop in lump premiums in China, reflecting weak demand from financially troubled steel mills.

According to Mysteel, China's imported lump ore premium compared to 62% Fe ore has dropped 42.2% in two months, to its lowest level since late May 2024. The reason comes from many blast furnace plants switching to medium-quality fine ore to reduce costs, as profit margins are at very low levels.

As of November 25, the premium price of Australian SEADEX 62.5% Fe lump was just $0.0925/dmtu – the lowest figure in about 18 months. Lump ore has the advantage of being fed into the blast furnace without sintering, but demand has declined significantly since September.

A Shanghai-based expert said the prolonged losses have forced mills to limit purchases of lump ore and prioritize medium-grade materials to cut production costs. This trend is expected to continue until the end of the year.

China’s steel market continues to be under pressure as crude steel output this year is likely to fall below 1 billion tonnes for the first time in six years. The government remains steadfast in its goal of cutting production to reduce emissions.

In India, finished steel imports in the first seven months of the fiscal year fell 34.1% year-on-year, indicating that demand in the region has not yet recovered strongly.

Coking coal and iron ore supplies are increasing, causing coal and iron ore prices to slow down. Galaxy Futures forecasts that pig iron production will continue to decline this week, causing input prices to fluctuate in an unfavorable direction.

The dollar index (DXY) fell to 99.431, after falling 0.28% in the previous session. A weaker dollar makes commodities priced in the currency cheaper for other currencies, helping to boost steel and iron ore prices.

On the DCE, coking coal prices fell 0.19%, while coking coal prices rose 0.03%. On the Shanghai Futures Exchange, construction steel fell 0.13%, hot-rolled steel fell 0.27%, and stainless steel fell 0.28%. In particular, wire rod prices rose sharply by 0.78%.

Domestic construction steel prices remain stable

In the domestic market, steel prices remained stable. Hoa Phat maintained the price of CB240 at VND13,500/kg and CB300 at VND13,090/kg.

Viet Duc Steel is listing CB240 at VND13,350/kg and CB300 at VND12,850/kg.

Many large enterprises such as Pomina or VJS also kept prices stable. Pomina maintained the level of 14,440-14,290 VND/kg for CB240 - CB300, while VJS steel traded at 13,230-12,830 VND/kg. Keeping prices stable shows that domestic demand has not fluctuated strongly, the market is still in a state of balance.

Source: https://baodanang.vn/steel-price-hom-nay-28-11-2025-tang-nhe-theo-da-suy-yeu-cua-usd-3311738.html