Domestic prices remain unchanged; iron ore headed for weekly decline as hopes for China stimulus fade.
World market
At the end of the trading session on August 1, the price of steel rebar for August delivery on the Shanghai Stock Exchange decreased by 1.12% (36 yuan) to 3,170 yuan/ton. On the Dalian Stock Exchange, the price of iron ore for August delivery increased by 0.63% (5 yuan) to 793.5 yuan/ton. Similarly, the price of iron ore for August delivery on the Singapore-SGX Stock Exchange increased by 0.24 USD to 99.65 USD/ton.
Compared with the end of last week, Shanghai steel prices, Dalian iron ore and Singapore prices changed respectively (-2.4%), (-0.9%), (-3.3%).
Steel futures in China plunged this week, reflecting market skepticism about the scale of fiscal support Beijing will deliver amid weakening consumption and a lingering property crisis.
Although the Chinese government has said it will adopt expansionary fiscal and monetary policies to boost spending, it has avoided announcing large-scale stimulus packages. The Politburo meeting in July set economic guidance for the second half of the year but did not offer specific relief measures for the real estate sector. Real estate is a sector with strong demand for steel.
In the international market, the US imposition of tariffs on several major economies has caused ArcelorMittal, the world's leading steel corporation, to lower its profit forecast and adjust down global steel consumption (excluding China). However, the US has also exempted tariffs on pig iron and ferro-alloy imported from Brazil to reduce the tariff burden on the steel industry.
Despite the market pressure, steel futures prices were 5% higher in the third quarter than the previous quarter, driven by expectations of infrastructure spending and potential supply cuts. Chinese policymakers have pledged to eliminate overcapacity in the construction materials sector, with Baosteel, one of the country’s largest steelmakers, forecasting that domestic steel output could fall by more than 50 million tonnes in 2025.
Meanwhile, iron ore, a key steelmaking raw material, was little changed on August 1 but was still on track to post a weekly decline as expectations for new stimulus from China dimmed. Meanwhile, the manufacturing PMI fell to 49.3 in July, its lowest since April, indicating continued weakness in domestic and international demand.
In a related development, Türkiye's steel exports increased sharply in the first half of 2025 but domestic production and consumption remained low.
According to the Turkish Steel Manufacturers Association (TCUD), in the first 6 months of 2025, Türkiye's steel product exports reached 7.7 million tons, up 18.6% year-on-year. In terms of value, the export turnover reached 5.2 billion USD, up 8.8% year-on-year.
In June alone, Türkiye exported 1.4 million tons of steel, up 21.5% compared to June 2024. Export revenue for the month reached 931.3 million USD, up 13.5% over the same period last year.
On the other hand, Türkiye's steel imports in the first half of the year increased by 12.6% year-on-year to 9.3 million tons. In June, import volume increased sharply by 52.4% to 1.8 million tons.
The export/import coverage ratio, an indicator reflecting trade autonomy, has decreased from 80.2% to 73.5%, showing that the steel industry's trade balance is tilting towards a trade deficit.
Türkiye's domestic consumption of finished steel products reached 18.6 million tonnes in the first half of the year, down 2.6% year-on-year. However, domestic demand increased by 8.8% in June alone to 3.1 million tonnes.
The country's steel output also recorded a decline. In the first six months of the year, Turkish steel mills produced a total of 18.3 million tons, down 1.7% compared to the same period in 2024. June output reached 2.9 million tons, down 3.5% compared to June last year.
Domestic market
Domestically, businesses are trying to stabilize construction steel prices. Specifically, the price of Hoa Phat's CB240 steel is recorded at 13,230 VND/kg; CB300 steel is at 12,830 VND/kg. At Viet Y Steel, the price of CB240 steel is at 13,130 VND/kg; D10 CB300 steel is at 12,520 VND/kg. Viet Sing Steel recorded 13,130 VND and 12,930 VND/kg, respectively.
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 is priced at 13,790 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 13,990 VND/kg.
Viet Duc Steel, with CB240 coil steel line at 13,550 VND/kg, D10 CB300 ribbed steel bar is priced at 13,550 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.
Steel prices in the Central region
Hoa Phat Steel, with CB240 coil steel line, is at 13,530 VND/kg; D10 CB300 ribbed steel bar is priced at 13,530 VND/kg.
Viet Duc Steel, currently CB240 coil 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.
Steel prices in the South
Hoa Phat Steel, CB240 rolled steel, 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://baolamdong.vn/gia-thep-hom-nay-3-8-tiep-da-giam-386222.html
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