Steel price today May 28: Iron ore future price continues to...

Steel prices on May 28 on the Shanghai Futures Exchange, all steel benchmarks recorded a downward trend. In the domestic market, steel prices continued to maintain their selling prices.

Steel prices on the exchange

Rebar on the Shanghai Futures Exchange (SHFE) for October 2025 delivery fell 17 yuan to 2,970 yuan/t.

Iron ore futures continued to fall for a third straight session amid renewed speculation of crude steel output cuts in China, the world’s top consumer, which has long struggled with overcapacity.

The most-traded September iron ore contract on China's Dalian Commodity Exchange (DCE) fell 1.76 percent to 698.5 yuan ($97.16) a tonne.

On the Singapore Exchange, the benchmark iron ore price for June (code SZZFM5) also decreased by 0.95% to $96.15/ton.

China is trying to control the expansion of its steel industry to address the persistent supply-demand imbalance, Tang Zujun, vice chairman of the China Iron and Steel Association, said at an industry event in Singapore.

Unconfirmed reports of possible production cuts at some mills in Shandong province have stoked market concerns, putting pressure on iron ore prices, according to analysts at ANZ. Steel production cuts could lead to a drop in demand for iron ore, a key raw material for steel production.

China’s stock market also came under pressure on Tuesday, particularly auto stocks, after the country’s Ministry of Commerce planned to meet with manufacturers and industry bodies to discuss the trend of selling “used cars” that have never been driven.

However, in a positive sign, China's industrial profits accelerated in April, suggesting the economy remains resilient amid trade tensions with the US and persistent domestic deflationary pressures.

Other steelmaking commodities on the DCE continued to weaken, with metallurgical coal and coking coal (code DCJcv1) down 0.12% and 0.94%, respectively.

On the Shanghai Futures Exchange, steel benchmarks all recorded a downward trend. Rebar prices fell 1.23%, hot-rolled coil fell 1.33%, wire rod (SWRcv1) fell 0.34%, and stainless steel fell 0.19%.

Domestic steel prices

In the North, according to SteelOnline.vn, Hoa Phat steel brand, with CB240 rolled steel line at 13,790 VND/kg; D10 CB300 ribbed steel bar is priced at 13,740 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 13,640 VND/kg.

Viet Duc Steel, with CB240 coil steel line at 13,600 VND/kg, D10 CB300 ribbed steel bar is priced at 13,350 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 13,840 VND/kg; D10 CB300 ribbed steel bar is priced at 13,790 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://baodaknong.vn/gia-thep-hom-nay-28-5-gia-quang-sat-tuong-lai-tiep-tuc-giam-253840.html