World steel prices rose slightly on the Shanghai floor
At the end of the trading session on December 4, the world steel and iron ore price market recorded mixed developments:
The December rebar futures price on the Shanghai Futures Exchange rose 0.33% (10 yuan) to 3,030 yuan/ton.
Iron ore prices on the Dalian Commodity Exchange were flat at 795 yuan/tonne.
Iron ore futures for December delivery on the Singapore Exchange edged up $0.05 to $107.9 a tonne.
However, the price of iron ore futures for January 2026 fell for the second consecutive session. The reason is that the market is under pressure from the strong increase in global iron ore supply. In parallel with iron ore, other steelmaking raw materials on the Dalian Exchange (coking coal and coke) also increased.
The market sentiment was partly dampened by news that the giant Simandou iron ore mine in Guinea had officially shipped its first commercial cargo to China. This is seen as a major turning point in the global supply situation, as Simandou possesses high-quality ore resources. This project could become a new counterweight to the two current major suppliers, Australia and Brazil.
The first shipment left Guinea on December 2. While the project is expected to ramp up to full capacity in about two and a half years, the three weeks it took to complete the first shipment suggests that moving toward large-scale exports remains challenging.
The launch of Simandou has had a significant impact on the shipping market, with strong demand for Capesize vessels pushing charter rates to a two-year high of $38,430 per day.
In addition to changes from Simandou, other supply and demand factors also impact steel prices.
India and Europe: India’s iron ore imports in the first 10 months of 2025 more than doubled, surpassing 10 million tonnes. In contrast, in Europe, Thyssenkrupp Steel Europe announced a 40% workforce cut and capacity reduction, bringing consumption down to 8.7–9 million tonnes.
China: The Chinese market remains focused on growth of around 5% next year to stabilize the economy and launch the new five-year plan.
Domestic construction steel prices continue to stabilize
In the domestic market, businesses have stabilized construction steel prices, keeping the listed prices unchanged.
Hoa Phat quoted CB240 and CB300 steel prices at VND13,500/kg and VND13,090/kg, respectively.
Viet Duc offers CB240 steel at VND13,350/kg and CB300 at VND12,850/kg.
Pomina Steel recorded CB240 and CB300 prices at 14,440 - 14,290 VND/kg.
VJS Steel listed price 13,230 - 12,830 VND/kg.
Source: https://baodanang.vn/gia-thep-hom-nay-5-12-2025-san-thuong-hai-tang-nhe-3313718.html
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