Steel price today July 29: Down across the board

Steel and iron ore prices reversed to fall amid concerns over US-China trade talks, while the recovery trend of the steel industry remains mixed.

World steel prices

At the end of the trading session on July 28, the price of steel rebar for August delivery on the Shanghai Stock Exchange decreased by 0.7% (22 yuan) to 3,227 yuan/ton. On the Dalian Stock Exchange, the price of iron ore for August delivery decreased by 1.19% (9.5 yuan) to 791.5 yuan/ton. Similarly, the price of iron ore for August delivery on the Singapore-SGX Exchange decreased by 2.48 USD to 100.55 USD/ton.

Profits at Chinese steel mills began to recover last month and are expected to accelerate in the second half of 2025 if the government delivers on its pledges to rein in overcapacity, Bloomberg reported.

Profits from China’s ferrous metallurgy industry were nearly 14 times higher in the first half of the year than in the same period last year, despite starting from a very low base, according to data released by the National Bureau of Statistics on July 27. The increase was mainly due to steel mills cutting production in June, while input costs were generally lower than product prices.

China’s steel industry has endured years of hardship due to the collapse of the real estate market – a traditional source of demand – and cutthroat competition has made the industry a prime target in Beijing’s recent campaign against “involution”.

While the industry has historically avoided strict capacity limits, pressure from policymakers has increased to reduce excessive competition in the economy .

Measures to control excess capacity are still being considered, but mills appear to have taken the initiative by cutting production sharply in June. Steel output in the first six months of this year fell to its lowest level since 2020.

On the other hand, demand is showing signs of improvement. According to Bloomberg Intelligence (BI), steel consumption in the first half of the year increased by 4.3%, led by the auto and machinery sectors. Although the construction sector remains weak, China’s steel exports have grown strongly despite trade barriers.

In addition, the outlook has also become more positive thanks to expectations of large demand from the mega-dam construction project in Tibet.

UBS said that more than 60% of Chinese steelmakers are now profitable, compared to only 30% in the same period in July 2024. This is a signal that the steel industry is gradually recovering after a long period of decline.

Meanwhile, in the US, steel import demand is slowing down. According to the American Iron and Steel Institute (AISI), the country's imports of steel coil in June 2025 decreased by 7.6% compared to the previous month, to 1.64 million tons. Total steel imports (including steel coil and semi-finished products) decreased by 9.6% month-on-month, reaching 2.25 million tons.

Despite the overall decrease, some products recorded strong monthly increases such as steel bars (+71%), hot-dip galvanized steel (+20.6%) and steel wire (+40.5%). However, products for the oil and gas industry decreased sharply by 31%. Overall, finished steel products accounted for 73.1% of total imports in the month.

In the first 6 months of the year, the US imported 10.79 million tons of rolled steel, down 7.8% compared to the same period in 2024. The total imported steel volume was 14.62 million tons, down 4.7% compared to the previous year. Of which, hot-dip galvanized steel reached 977,090 tons (-37.5%), and cold-rolled steel reached 873,970 tons (-11%).

Domestic steel prices

Updated from SteelOnline.vn, steel prices in the Northern, Central and Southern regions are stable, currently steel prices fluctuate from 12,520 - 13,580 VND/kg for products such as CB240 and D10 CB300.

In the North: Viet Duc Steel: CB240 rolled steel at 13,050 VND/kg; D10 CB300 ribbed steel bar at 12,440 VND/kg. Hoa Phat Steel: CB240 rolled steel at 13,230 VND/kg; D10 CB300 ribbed steel bar at 12,830 VND/kg. Viet Sing Steel: CB240 rolled steel at 13,130 VND/kg; D10 CB300 ribbed steel bar at 12,930 VND/kg.

Viet Y Steel: CB240 steel coil price 13,130 VND/kg; D10 CB300 ribbed steel bar price 12,520 VND/kg. VAS Steel: CB240 steel coil price 13,130 VND/kg; D10 CB300 ribbed steel bar price 12,730 VND/kg.

In the Central region: Viet Duc Steel: CB240 coil steel is priced at 13,550 VND/kg; D10 CB300 ribbed steel is priced at 13,500 VND/kg. Hoa Phat Steel: CB240 coil steel is priced at 13,230 VND/kg; D10 CB300 ribbed steel is priced at 12,830 VND/kg. VAS Steel: CB240 coil steel is priced at 13,230 VND/kg; D10 CB300 ribbed steel is priced at 13,730 VND/kg.

In the South: Hoa Phat Steel: CB240 coil steel is priced at VND13,230/kg; D10 CB300 ribbed steel is priced at VND12,830/kg. VAS Steel: CB240 coil steel is priced at VND13,130/kg; D10 CB300 ribbed steel is priced at VND12,730/kg. TungHo Steel: CB240 coil steel is priced at VND13,030/kg; D10 CB300 ribbed steel is priced at VND12,530/kg./.

Steel enterprises expect positive growth in the second half of the year

Strong momentum from the domestic market, sharp decline in input material prices and signs of recovery in exports have helped the Vietnamese steel industry enter the second half of the year with many positive signals. In the context of global uncertainties, this is considered an important boost to help steel enterprises expand their growth potential.

Source: https://baolamdong.vn/gia-thep-hom-nay-29-7-dong-loat-di-xuong-384174.html