Steel price today May 31: Iron ore futures price slightly decreased

Steel prices on the exchange

Rebar on the Shanghai Futures Exchange (SHFE) for October 2025 delivery fell 10 yuan to 2,961 yuan/t.

Iron ore futures edged lower on Friday, posting a weekly loss, as demand for the steelmaking raw material in China weakened and traders braced for further uncertainty in global trade.

The most-traded September iron ore contract on China's Dalian Commodity Exchange (DCE) fell 0.43% to 702 yuan ($97.65) a tonne, down 2.84% on the week.

Benchmark June iron ore (SZZFM5) on the Singapore Exchange fell 0.66% to $96.25 a tonne, down 1.91% for the week.

Hot metal output fell for a third straight week, down about 0.7% to 2.42 million tonnes as of May 30, according to data from consultancy Mysteel.

However, iron ore prices are still receiving some support as steel mills maintain relatively good profit margins, according to brokerage Hexun Futures.

China's factory activity likely contracted for a second straight month in May, suggesting trade tensions with major export markets continue to weigh on sentiment among manufacturers.

In the US, President Donald Trump's tariffs have been temporarily reinstated following a ruling by a federal appeals court on Thursday, overturning an earlier trade court decision that had blocked the sweeping tariffs.

Other steelmaking raw material contracts on the DCE exchange also weakened, with metallurgical coal and coking coal (DCJcv1) down 5.28% and 2.13%, respectively.

On the Shanghai Futures Exchange, steel products traded mixed. Rebar fell 0.34%, hot-rolled coil fell 0.81%, while wire rod (SWRcv1) edged up 0.12% and stainless steel rose nearly 0.6%.

China's financial markets will be closed on Monday (June 2) for a public holiday and will reopen on Tuesday, June 3.

Domestic steel prices

In the North, 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.