Steel price today October 31: Mixed fluctuations in the market

Shanghai steel prices continued to increase slightly while Singapore iron ore prices adjusted down. In the domestic market, construction steel prices remained stable.

World steel and iron ore price developments

According to records at the end of the trading session on October 30, the global steel and raw material markets recorded mixed fluctuations. Specifically, on the Shanghai Futures Exchange (SHFE), the price of steel rebar for November delivery increased by 6 yuan (equivalent to 0.2%) to 3,049 yuan/ton.

Meanwhile, on the Dalian Commodity Exchange (DCE), the price of iron ore for delivery in January 2026 increased by 0.38% to 802.5 yuan/ton (about 112.66 USD/ton). However, on the Singapore Exchange (SGX), the price of iron ore for delivery in November decreased by 0.65 USD to 107.05 USD/ton.

Steel prices and input materials fluctuated in opposite directions on international exchanges.

Analysis from experts

According to Reuters, the decline in iron ore prices on the SGX was mainly due to profit-taking by investors after the meeting between US and Chinese leaders. US President Donald Trump said he had reached an agreement with Chinese President Xi Jinping on a number of important trade issues.

“The recent price increase is mainly due to positive sentiment from macro factors. However, trading in the spot market is quiet and does not have enough strength to maintain the same upward momentum, so it is understandable that futures prices will adjust,” said Steven Yu, senior analyst at consultancy Mysteel.

Investors remained cautious amid signs of weakening steel demand due to seasonal factors and concerns that iron ore inventories at Chinese ports could increase rapidly in the coming time. In contrast, other input materials such as coking coal and coke increased in price by 1.62% and 0.59%, respectively, due to expectations of limited supply.

Domestic construction steel market

In Vietnam, construction steel prices on October 31 were recorded stable nationwide. According to data from SteelOnline.vn, prices of CB240 rolled steel products and D10 CB300 rebars ranged from 12,520 to 13,640 VND/kg, depending on the brand and region.

Reference price list in some areas

Trademark	Product	Price in the North (VND/kg)	Price in the South (VND/kg)
Hoa Phat	CB240 steel coil	13,500	13,500
Hoa Phat	D10 CB300 steel bar	13,090	13,090
Vietnamese-German	CB240 steel coil	13,350	-
Vietnamese-German	D10 CB300 steel bar	12,850	-
Vietnamese-Italian	CB240 steel coil	13,640	-
Vietnamese-Italian	D10 CB300 steel bar	12,880	-
VAS	CB240 steel coil	-	13,130
VAS	D10 CB300 steel bar	-	12,730
TungHo	CB240 steel coil	-	12,520

In the Central region, steel prices of brands such as Hoa Phat, Viet Duc, VAS and Viet Nhat also did not have significant adjustments, maintaining the same stability as other regions.

Source: https://baolamdong.vn/gia-thep-hom-nay-3110-bien-dong-trai-chieu-tren-thi-truong-399201.html